On 31 July 2009, Thoratec Corporation (Thoratec) announced that it had abandoned its proposed US$282 million acquisition of HeartWare International (HeartWare) only one day after the US Federal Trade Commission (FTC) authorised staff to commence administrative proceedings and file a lawsuit in federal district court to block the transaction on the grounds that it would substantially lessen competition in the US market for left ventricular devices used in the treatment of advanced heart failure.