Hi Guys,Here is a rundown of the Bioshares report dated 26th...

Hi Guys,

Here is a rundown of the Bioshares report dated 26th October, 2007.

They are estimating 07/08 Financial year 17 million to 27 million on a sale price of $100.000 per device. The need to sell 600 pumps for a breakeven.

Ventracor improvement on Heartmate 11 device (Thoratec) VCR 2 years behind thoratec in being approved in the US.

In 2006 Thoratec generated $105 million in sales and with Destination therapy market could easily increase to 500 million in coming years. Both Thoratec and VCR are well placed being the two clear leaders in this market.

Europe VCR sold 23 devices .............16 so far this year. 400 devices sold in total in last Financial year all companies in European market which has the capacity to increase 10 fold. Thoratec and Berlin Heart are existing competitors.............For VCR Sales are limited by lack of reinbursement, but VCR are trying to address this issue in certain European countries.............VCR have 13 centres up a running in Europe with trained staff.

Stem cell is 5 to 10 years away but VCR can see it working with the LVAD to repair heart muscles.

4 Centres in Australia under hospital budget of 40 implants allowed per year, but VCR are in negiotations with Private Health insurers where it would be covered if successful, also exploring Hong Kong and India opportunities.

Furture improvements is a fully implatable system and improved battery life.

Recent improvements in the device have included a detachable external cable and reduction in the external backpack carried by patient.

Bioshares have a Spectulative buy on it and have added it to their portfolio.

May have missed a few bits and hype but that is a general rundown, they seem very optimistic about the US market.

Cheers dma