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HeartWare Starts Partial Recall of Waterproof Controllers

DOW JONES NEWSWIRES HeartWare International Inc. (HTWR) announced a partial recall of some of its waterproof heartpump controllers that may have reduced speaker-volume levels owing to excess air vacuum in some of the units. The medical-device maker said a July design revision led to the excess air vacuum during air transports. Though the company expanded its product-testing in December of last year to screen out affected units and added a small Teflon vent to prevent the problem. The controllers are part of the HeartWare Left Ventricular Assist Systems, or heartpumps to treat advanced heart failure, which is limited to investigational use in the U.S. The device is available for commercial use in Europe. President and Chief Executive Doug Godshall said, "There are still patients being supported by our now waterproof controllers that do not have the current 'vented' controller. This field program will enable these older versions to be upgraded to the current vented configuration." HeartWare will also replace some other controllers. The company said the reduced volume doesn't otherwise impede the controllers' operation and that it has "significant inventory" of vented controllers and associated components to repair and replace the units without disruptions. The expected cost is less than $400,000, the company said. Shares closed Friday at $49.92 and were inactive premarket. The stock is up 41% this year. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Heartware International (HTWR)
DateTimeHeadline
07/26/201608:54:56Statement of Ownership: Solicitation (sc 14d9)
07/26/201608:25:59Tender Offer Statement by Third Party (sc To-t)
07/25/201618:09:47Statement of Changes in Beneficial Ownership (4)
07/21/201606:04:44Written Communication Relating to an Issuer or Third Party (sc...
07/21/201606:02:32Written Communication by the Subject Company Relating to a Third...
07/12/201617:06:33Statement of Changes in Beneficial Ownership (4)
07/11/201612:10:37Amended Statement of Ownership (sc 13g/a)
07/07/201608:29:37Written Communication by the Subject Company Relating to a Third...
07/05/201618:46:26Statement of Changes in Beneficial Ownership (4)
07/05/201618:44:58Statement of Changes in Beneficial Ownership (4)
06/28/201622:00:00INVESTOR ALERT: Brower Piven Commences An Investigation Into...
06/28/201617:13:20Amended Statement of Beneficial Ownership (sc 13d/a)
06/28/201614:06:00HeartWare International, Inc. Acquisition May Not Be in the Best...
06/28/201603:03:00Medtronic to Buy Heart-Care Firm -- WSJ
06/27/201617:27:58Written Communication by the Subject Company Relating to a Third...
06/27/201617:26:13Written Communication Relating to an Issuer or Third Party (sc...
06/27/201617:05:00INVESTOR ALERT: Levi & Korsinsky, LLP Announces an Investigation...
06/27/201616:49:01Written Communication Relating to an Issuer or Third Party (sc...
06/27/201616:45:38Written Communication Relating to an Issuer or Third Party (sc...
06/27/201614:45:00Medtronic to Buy HeartWare for $1.1 Billion -- Update

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