| Business Summary | | World
Heart
Corp.
focuses
on
the
development
of
HeartSaver
VAD
and
Novacor
LVAS
to
provide
an
effective
treatment
for
end-stage
heart
failure.
Ventricular
assist
devices
(VADs)
are
mechanical
assist
devices
that
supplement
the
circulatory
function
of
the
heart
by
rerouting
blood
flow
through
a
mechanical
pump.
The
Novacor
LVAS
represents
the
current
generation
of
pulsatile
ventricular
assist
devices,
with
HeartSaver
as
the
next
generation
of
fully
implantable
pulsatile
VADs.
HeartSaver
is
designed
to
be
an
affordable,
fully
implantable
heart
assist
device
to
provide
long-term
support
of
pulsatile
blood
flow
to
people
suffering
from
heart
failure
and
to
permit
the
recipient
to
return
to
near
normal
activities.
Commencement
of
clinical
trials
in
humans
is
planned
for
the
fourth
quarter
of
2001,
subject
to
Health
Canada
approval.
Subject
to
regulatory
approval,
commercial
production
of
HeartSaver
is
planned
for
2002. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | World
Heart
Corporation
was
formed
for
the
purpose
of
developing
a
medical
devices
business
based
initially
on
licensed
artificial
heart
and
related
technologies
developed
by
the
Cardiovascular
Devices
Division
of
the
Ottawa
Heart
Research
Corporation.
For
the
six
months
ended
6/30/01,
revenues
totaled
C$2.8
million,
up
from
C$0.
Net
loss
totaled
C28.2
million,
up
from
C$8.5
million.
Results
reflect
the
acquisition
of
Novacor,
offset
by
increased
R&D
and
amortization
costs. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1998 Pay | |
| Roderick Bryden Chairman
and CEO | $156K | Tofy Mussivand Pres,
COO | 298K | Robert Corson Exec.
VP - Opertions | 204K | Ian Malone VP - Fin., CFO | 214K | W. Keys VP,
Gen. Counsel and Sec. | -- | Dollar amounts are as of 31-Dec-1998 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|