HeartWare Ltd Sees Bright Future for Its Smaller, More Efficient Heart Device

Strategic Insights -

HeartWare Ltd, a leader in the development of medical heart pumps, is optimistic about its future prospects due to the success of its newest device, the HVAD. The company's HVAD is the smallest of its kind, with the added benefit of being more efficient than its competitors. This smaller size has the potential to make a significant impact on the market, allowing HeartWare to become a major player in the industry.

Key Takeaways:

  • HeartWare's HVAD is the smallest third-generation left ventricular assist device (LVAD) available in the market, with a significant competitive advantage.
  • The HVAD has already been successfully implanted in a 48-year-old male patient in a clinical trial in Austria, with the operation taking only 85 minutes.
  • The company has received approval from the Therapeutic Goods Administration (TGA) to conduct the trial at Australia's Royal Perth Hospital from May, with first sales anticipated in late 2007.
  • HeartWare's major competitors include Ventracor and Thoratec, with the latter being the only LVAD approved for destination therapy.
  • The company is planning a secondary capital raising in the next quarter, after raising $A32.4 million ($US24.17 million) in January 2005.
  • HeartWare is also developing a miniaturised ventricular assist device (MVAD), which is about two years behind the HVAD in terms of clinical development but is significantly smaller in size.

Statistics:

  • The operation to implant the HVAD took 85 minutes, compared to the typical 4-6 hours for larger devices (Source: HeartWare Ltd).
  • The company raised $A32.4 million ($US24.17 million) in January 2005 (Source: HeartWare Ltd).
  • By 2010, cardiovascular disease is expected to be the number one cause of death in the world, with it already being the leading cause of premature death in Australia (Source: World Health Organisation).
  • The HVAD is about one-tenth the size of the expected miniaturised ventricular assist device (MVAD) (Source: Howard Leibman, Corporate Development Director, HeartWare Ltd).

Sources:

  • Asia Pulse, April 25, Sydney, Australia
  • HeartWare Ltd, Sydney, Australia (ASX:HTW)
  • World Health Organisation