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HeartWare International Announces Preliminary Fourth Quarter 2013 Revenues

FRAMINGHAM, Mass., Jan. 14, 2014 /PRNewswire/ -- HeartWare International, Inc. (NASDAQ: HTWR), a leading innovator of less invasive, miniaturized circulatory support technologies that are revolutionizing the treatment of advanced heart failure, today announced that it expects revenues for the fourth quarter of 2013 will be approximately $53 million, bringing expected full-year 2013 revenues to approximately $208 million.

"Our full-year revenue growth of 87% for 2013 above 2012 reflects the first complete year of commercialization of the HeartWare ® Ventricular Assist System in the U.S. and represents the strong market penetration we have experienced to date," said Doug Godshall, President and Chief Executive Officer.  "Fourth Quarter 2013 revenues were derived roughly evenly between domestic and international sales, with October and December being notably stronger than November in the U.S."

"Looking ahead, we remain focused on continued expansion of our domestic commercial footprint for bridge-to-transplant patients, as well as ramping enrollment in our destination therapy clinical trial.   In international markets, we have received approval to commence our clinical trial in Japan, a key growth market in the future," Mr. Godshall added.   

These preliminary results are being provided in conjunction with the Company's presentation to the investment community today at the 32 nd Annual J.P. Morgan Healthcare Conference.  HeartWare's presentation commences at 1:30 p.m. Pacific Standard Time ( 4:30 p.m. EST). The conference is being held January 13-16 at the Westin St. Francis Hotel in San Francisco. 

A live webcast of the Company's presentation at the conference will be available via a link provided at www.heartware.com.  A replay of the webcast will be available for 90 days at the site after the presentation.

The financial estimates presented above are preliminary and remain subject to management's final review as well as audit by the Company's independent registered accounting firm.  The Company intends to report complete fourth quarter and full-year 2013 financial results in late February.  Details regarding the timing of the release of those results, as well as details of a conference call and publicly available webcast, will be announced in a subsequent news release. 

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