SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* GBS Venture Partners Pty, Ltd (Last) (First) (Middle) LEVEL 5 71 COLLINS ST. (Street) MELBOURNE C3 VIC 3000 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 02/14/2012	3. Issuer Name and Ticker or Trading Symbol Sunshine Heart, Inc. [ SSH ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	379,596	I	By GBS Bioventures II A/C (1)
Common Stock	815,165	I	By GBS Bioventures III A/C (2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Warrant (right to buy)	(3)	12/08/2014	Common Stock	79,083	6.5114	I	By GBS Bioventures II A/C (1)
Common Stock Warrant (right to buy)	(3)	12/08/2014	Common Stock	169,826	6.5114	I	By GBS Bioventures III A/C (2)

1. Name and Address of Reporting Person* GBS Venture Partners Pty, Ltd (Last) (First) (Middle) LEVEL 5 71 COLLINS ST. (Street) MELBOURNE C3 VIC 3000 (City) (State) (Zip)

1. Name and Address of Reporting Person* GBS Bioventures II A/C (Last) (First) (Middle) LEVEL 5 71 COLLINS ST (Street) MELBOURNE C3 VIC 3000 (City) (State) (Zip)

1. Name and Address of Reporting Person* GBS Bioventures III A/C (Last) (First) (Middle) LEVEL 5 71 COLLINS ST (Street) MELBOURNE C3 VIC 3000 (City) (State) (Zip)

Explanation of Responses:

1. Represents securities held directly by GBS Bioventures II A/C. Dr. Geoffrey Brooke is a managing director of GBS Venture Partners Pty, Ltd. which manages GBS Bioventures II A/C. Dr. Brooke, a director of the Issuer, shares voting and investment power with another partner and may be deemed to be an indirect beneficial owner of the reported securities. Dr. Brooke disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest. This report shall not be deemed an admission that Dr. Brooke is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

2. Represents securities held directly by GBS Bioventures III A/C. Dr. Geoffrey Brooke is a managing director of GBS Venture Partners Pty, Ltd. which manages GBS Bioventures III A/C. Dr. Brooke, a director of the Issuer, shares voting and investment power with another partner and may be deemed to be an indirect beneficial owner of the reported securities. Dr. Brooke disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest. This report shall not be deemed an admission that Dr. Brooke is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

3. Immediately exercisable.

	/s/ Kassendra D. Galindo, attorney-in-fact	02/28/2012
	/s/ Kassendra D. Galindo, attorney-in-fact	02/28/2012
	/s/ Kassendra D. Galindo, attorney-in-fact	02/28/2012
	** Signature of Reporting Person	Date
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