First operating revenues for Ventracor

Sydney-based artificial heart company Ventracor (ASX:VCR) will report its first operating revenues of more than $300,000 in the first half of the 2006 financial year.

The revenues are from payments for implants of the VentrAssist left ventricular assist device (LVAD) in US and UK patients.

"Our latest payment came from Papworth Hospital in the UK which is taking part in the CE Mark trial," said Ventracor CEO Colin Sutton in a statement. "We expect enrolment in that trial to be complete in early 2006."

CE Mark approval will enable Ventracor to begin marketing and selling its VentrAssist device in Europe.

Ventracor is also conducting an FDA-approved feasibility study at five leading hospitals in the USA and the company received its first revenues in August -- a cheque from the University of Maryland Medical Centre as payment for a VentrAssist device implanted in a patient as part of the trial.

"The prices paid for the VentrAssist are consistent with the industry averages in the US and the UK," said Sutton.

Ventracor had previously indicated that its first revenues would occur before the end of the 2005 calendar year. "I am very happy to say that we have met this important milestone," said Sutton.