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Biotech / Medical : VD's Model Portfolio & Discussion Thread
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To: jonathan romanowsky who wrote (4274)3/10/1998 5:21:00 AM
From: Rocketman  Read Replies (1) of 9719
 
Jonathon,

I too have followed Heartport for some time now. I'm surprised V1 doesn't know of them, but he does tend to follow bio/pharma more than med device. I'll leave a summary of them to you.

When I first started watching Heartport HPRT was right before they had a big run up in valuation early last year to around $30, and then I thought (rightly so) that they had over run their fair value. Well, they've fallen from favor and their $1 billion market cap is down to a more reasonable $320M. Hell of a fall from grace I might add.

It just so happens that I was at an entrepreneurs conference at Stanford on Saturday, and on the biotech panel was founder, Pres/CEO Wes Sterman, MD. Nice guy, definite evangalist for his company and product.....and rightly so. Now this is from memory, but I think he said that they've trained 180 physician teams and have done 3000 procedures. I talked with him afterwards and asked him how long he figured it would take to fully penetrate the market and he pretty confidently said five years. I was more interested in knowing as I see Norian coming into an analogous slow laborious market rampup. It's not easy teaching surgeons new tricks! These kind of slow product rampups are not exactly what keeps momentum investors on the edge of their seats.

I would not be opposed to the model taking a position in HPRT if our buying power situation improves sufficiently. It would be helpful to the thread if maybe you could post some more links and info on HPRT for our other viewers.

Thanks Jonathon,

Rman

PS: No need to double post your message to both V1 and myself. We read each others posts @;-o

Rman
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