Total votes: 2

Overview:

HeartWare develops and manufactures miniaturized implantable heart  pumps, or Left Ventricular Assist Devices (LVADs), designed to treat patients suffering from advanced heart failure. The Company is developing the industry's smallest and blood contacting invasive pumps, which it believes will be the key to unlocking the potential of a large and underserved market.

The HeartWare(R) LVAD is a full-output pump designed to be implanted in the chest, avoiding the abdominal surgery generally required to implant competing devices.

The device is currently the subject of an international clinical trial involving five investigational centres in Europe and Australia. A clinical trial in the U.S. have begun. The device is commercially available in Europe. As of 2010 July over 400 implants had been achieved.

An Australian comapny with a signifiacnt part of its operations moved to theUSA.

Some key Financials:

Revenue 2009 calendar year: approx. $24 million

Cash as of Dec. 2009: approx. approx $50 million

Key Staff:

Douglas Godshall, Chief Executive Officer: Doug joined HeartWare as Chief Executive Officer in September 2006.  An experienced medical device executive, Doug has overall responsibility for developing and executing HeartWare's strategic plan and for delivering key corporate, operational and financial objectives. Prior to joining HeartWare, Doug spent over 16 years at Boston Scientific, most recently as President of the Vascular Surgery Division.

James Schuermann, Vice President Sales and Marketing: Jim joined HeartWare in September 2007.  He has overall responsibility for HeartWare's sales and marketing activities across all markets. Jim has over 16 years sales and marketing experience in the medical device arena. Prior to joining HeartWare, he spent nine years in sales and marketing at Boston Scientific Corporation. 

Dr David Hathaway, Chief Medical Officer: David is responsible for all medical and clinical affairs, including the design and execution of HeartWare's clinical trial program.  David was previously Vice President of Medical Affairs with Knoll Pharmaceutical Company until it was acquired by Abbott Laboratories.

Possible Competitiors:

 - Thoratec
 - Sunshine Heart