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Biotech / Medical : World Heart Corp - WHRT and TSE/WHT
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To: Fred J Bealle who wrote (36)3/8/1997 9:47:00 AM
From: Dan Hamilton   of 500
 
>>This "TET" device could find a bigger market than the "VAD" device! Who knows what new gimmicks will be needed in future cyborgs. :-)
60 watts is a lot of juice---about 1/13 Horsepower!>>

Fred: I got a copy of the Gargiulo Group report on World Heart, and they do indeed reference the separate potential for the TET and Biotelemetry system:

"World Heart has three sources of potential revenue; the selling of the HeartSaver VAD device itself, and independent sales of TET and Biotelemetry. TET and Biotelemetry may generate initial revenues before regulatory approval of the HeartSaver VAD device itself. TET has many potential medical and new medical applications. Biotelemetry is a key component of the evolving practice of telemedicine, which could have a major impact on health care costs and patient convenience."

The report also goes on to say:

"We believe that World Heart could achieve a market capitalization of $250 million plus, based on expected sales and earnings in the year 2001. This range is also supported by the expected revenues and earnings performance of World Heart. Meaningful revenues, but no profits, are expected in 1999 during clinical trial, followed by approval in Canada and countries accepting the Canadian approval approximately 3 years from now, in 2000. Earnings could exceed $2.50 per share in 2001."

$2.50 per share and a relatively modest P/E of 20 for a medical technology growth company would give WHRTF a share price of $50 in 2001. A P/E of 40 would give it a nice round share price of $100.

Dan
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