income, page-14

And more Terry.
Paediatric cardiothoracic surgery is quite specialised. Here in old Sydney town, there are basically two centres that perform it with approximately 15 procedures per week (so my spies tell me).

There are many more facilities that perform adult cardiothoracic surgery (predominantly bypass and valve work) (I can think of 7 or 8 public facilities and two or three private facilities). while they perform fewer Admedus requiring procedures (at the moment, it would be valve work) the increased number of facilities multiplies by the fewer number of procedures potentially could see the same amount of demand for the product. At one or two valve specific procedures per week per facility (which is not unrealistic), the number of Admedus items needed could easily equal or exceed the paediatric congenital defect demand. Furthermore, the number of hernia repairs would likely dwarf the number of cardiac patches and valves being sold based on the number of facilities (almost every hospital can do a hernia repair) and the number that are done each week (several).

These scenarios could quite possibly be a reflection of the overseas experience.

Gonna need a bigger boat!