Below is a letter I sent to the MPs below. Please feel free to...

Below is a letter I sent to the MPs below. Please feel free to reuse the letter or parts of it if you wish to do the same. cheers...

[email protected]
Treasurer

[email protected]
Opposition leader

[email protected]
Health Minister

[email protected]
Minister for Finance and Deregulation

[email protected]
Minister for Innovation, Industry, Science and Research

for Kevin Rudd you have to fill in an online letter
go to http://www.pm.gov.au/contact/index.cfm




Dear xxxxxx,

A grave injustice is just about to occur. One of Australia’s premier biotech companies is about to collapse and have its technology the subject of a firesale overseas. The name of the company is Ventracor and they make heart pumps.

Ventracor is by no means a speculative biotech company. The company’s achievements thus far include:
- More than 420 patients implanted worldwide with their lifesaving heart pump.
- Continually accelerating sales over the last 6 years since their first implant.
- Approval to sell worldwide including Australia and Europe (but excluding the US).
- Successful completion of the US trial recently and FDA approval to sell the device in the US is due in less than 12 months.
- On track for profitability in the next year.
- Recognised by analysts and independent experts as being the only major competitor to the worldwide leader in this field – the American company Thoratec.

This will be a grave injustice because Ventracor will provide huge benefits to the nation, not in 5 or 10 years time but starting from next year when they are due to achieve profitability and approval to sell their product worldwide.

The loss to Australia will include:
- More than 100 Australian jobs plus additional jobs from the continued growth opportunity of the company.
- World leading and award winning technology that has taken 15 years to develop.
- Close to half a billion dollars of Australian shareholder value.*

The company is currently in Voluntary Administration. Estimates suggest they only need $20 - $30M to continue through to profitability. There is also a new management team that is willing to step on board with minimal salary until the company can become self sufficient. This team has considerable shareholder support.

The Australian Government could help in one or more of the following ways:
- Ensuring the Voluntary Administrators give every chance for the company to survive and remain in Australia.
- Enable a loan to be provided to the company until they can become self sufficient.
- Match shareholder support dollar for dollar to give the company sufficient funds through to self sustainment.

For the sake of thousands of Australian shareholders, more than 100 Australian employees, and Australia’s high-tech manufacturing industry I urge you to address this issue with utmost priority.

Regards,


XXXXXXX

* Note: A company called Heartware International, with a similar product, was recently sold to Thoratec for the large value of $430M despite being 3 years behind Ventracor in terms of sales.