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The company makes ventricular assist devices (VAD) for patients suffering late-stage heart failure, including those awaiting a heart transplant. Thoratec offers external and implantable products that provide circulatory support for both acute and long-term needs. Thoratec also sells Vectra, a graft used in renal hemodialysis.

The company works closely with hospitals and cardiac surgery centers primarily in the US and Europe. Its lead products include the HeartMate II, HeartMate XVE, Thoratec PVAD, and Thoratec IVAD ventricular assist devices. Thoratec operates worldwide with facilities in Massachusetts, California, and the UK.