http://www.reuters.com/article/2011/12/05/thoratec-idUSN1E7B41AX2...

http://www.reuters.com/article/2011/12/05/thoratec-idUSN1E7B41AX20111205 Mon Dec 5, 2011 5:17pm EST

Dec 5 (Reuters) - A long-time investor in shares of Thoratec Corp is urging the cardiac device maker to put itself up for sale.

Oracle Investment Management Inc of Greenwich, Connecticut, said it has sent a letter to Thoratec's directors urging the board to hire an investment bank to conduct an auction to find an acquirer for the company.

Oracle Investment said it believes Thoratec, a maker of left ventricular assist devices that help the heart circulate blood in heart failure patients, will be unable to maximize shareholder value as an independent public company.

Oracle Investment said it expects the LVAD market to become one of the fastest-growing and largest in the medical device field, with a potential to generate $5 billion to $10 billion in sales.

"Although Thoratec management initiated development of the LVAD market, recent market growth has been unsatisfactory and Thoratec has not meaningfully expanded its market share in many of the most promising European markets," Oracle Investment said in the letter.

"It is now clear that the market clout, deep capital resources, and relevant experience of a larger and more tenured medtech company is required to accelerate the penetration of this burgeoning market opportunity."

Thoractec could not be reached immediately for comment.

Thoratec shares rose 3.5 percent to $31.50 in extended trade.