VCR ventracor limited

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    Ventracor takes heart from first-half result
    Email Print Normal font Large font AdvertisementJulian Drape
    February 23, 2008

    VENTRACOR has reduced a first-half net loss and says growing confidence in its heart pumps is leading to increased sales opportunities.

    The $14.98 million net loss was an improvement on the $17.92 million loss in the previous corresponding period.

    Investors drove the Brisbane group's shares 2.5¢, or 5.88%, higher to 45¢. They are still a long way off their $1.17 January 2007 peak.

    Ventracor has been transforming to concentrate on commercialising its VentraAssist left ventricular assist device away from a past focus on research and development.

    VentraAssist sales for the six months to December 31 increased to $6.2 million, from a low base of $1.1 million. Chief executive Peter Crosby said the trajectory of growth and revenue had been "very pleasing", with the US, European and Australian markets all contributing.

    He said Ventracor would expand into Asia this year and accelerate development of a "potentially market-changing" device with a fully implantable rechargeable power source, which would eliminate wires through the skin

    "We're being very opportunistic for the markets outside our core," Mr Crosby said.

    Ventracor has established a centre in Hong Kong and expects its first implant in India next month. To date, 203 people have been implanted with the VentraAssist — which sells for about $US75,000 ($A81,700) — in 29 centres
 
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