News & Events

Sunshine Heart, Inc. (ASX: SHC), a global medical device company focused on innovative heart assist technologies, announced today that, following the milestone of the successful start to its US Food and Drug Administration ("FDA") approved IDE trial of its C-PulseTM heart-assist device, its Board intends to raise additional capital for the Company. The Company requires additional funding to take it through the present trial and preparations for the more substantial FDA program planned to start in 2010 as the final stage of obtaining approval to market its products in the USA. The Chairman, Nicholas Callinan, said the Board will explore all options open to it in the present market conditions. "With the first C-Pulse implants working satisfactorily in the initial patients in the US, the milestone of starting the IDE trial has been achieved. With other leading US medical centres actively recruiting patients for the next implants, we feel investors should be in a position to judge the progress of the Company," he said.

Separately, the Company announced the retirement of Brian Bolton as Chief Financial Officer and Company Secretary. CEO Don Rohrbaugh said, "Brian's financial guidance over the recent years has seen the Company through the achievement of major milestones from product development to the FDA's IDE trial approval to the first successful U.S. patient implants in April this year. The Board and management express their appreciation of Brian's significant contribution to the Company and wish him the best in his future endeavours." The Company's current Financial Controller, Ms. Rowena Hubble will assume the role of Company Secretary effective May 14, 2009. CEO Don Rohrbaugh welcomed Rowena into her new position.