Wall Street Journal says profit projected for 2001
World Heart Corp WHT
Shares issued 12,243,000 Jul 27 close $12.10
Tue 28 Jul 98 In the News
The Globe and Mail reports in a Wall Street Journal story in its Tuesday edition that with a fresh spin on a familiar technology, an Ottawa startup has set its sights on the potentially huge market for artificial hearts. Reporter John Urquhart says that ambitiously named World Heart, the Ottawa company has yet to earn a dime for its shareholders. Its management, however, is projecting its first profit, of about $13-million (U.S.) in 2001, when the company expects its first full year of sales. Backed by a team of medical researchers and high-tech entrepreneurs, World Heart is one of many companies, small and large, developing a new generation of artificial heart devices for the millions of people suffering from various kinds of heart failure. World Heart's product, the HeartSaver, is drawing attention from the medical community, in part because of the way it is powered and its compact size. World Heart is conducting tests on animals and aims to start human trials in late 1999.
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