Sunshine Heart, Inc. Closes Public Offering of Common Shares

EDEN PRAIRIE, Minn., Sept. 24, 2013 (GLOBE NEWSWIRE) — Sunshine Heart, Inc. (Nasdaq:SSH) announced today the
closing of its previously announced underwritten public offering of 4,381,500 shares of its common stock, which includes the full
overallotment of 571,500 shares, at a price to the public of $10.50 per share. The net proceeds from the sale of shares by
Sunshine Heart, after underwriting discounts and other offering expenses, total approximately $42.6 million.

Piper Jaffray & Co. and Cowen and Company, LLC acted as joint book-running managers and Lazard Capital Markets LLC
acted as co-lead manager for the offering. Craig-Hallum Capital Group and Northland Securities, Inc. acted as co-managers for
the offering.

Sunshine Heart currently intends to use the net proceeds from the offering for general corporate purposes, including its
ongoing U.S. pivotal trial and post-market EU study, initial commercialization of the C-Pulse® Heart Assist System, or C-Pulse
System, in the EU, and product development activities.

The offering was made pursuant to a shelf registration statement (File No. 333-187273) (including a prospectus) previously
filed with and declared effective by the SEC. Prospective investors should read the prospectus in that registration statement,
the final prospectus relating to the offering, and other documents that Sunshine Heart has filed with the SEC for more complete
information about Sunshine Heart and the offering. A copy of the prospectus supplement and the accompanying prospectus
relating to these securities may be obtained by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet
Mall, Suite 1000, Minneapolis, MN 55402, or by telephone at (800) 747-3924, or by e-mail at prospectus@pjc.com, or by
contacting Cowen and Company, LLC (c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717,
Attn: Prospectus Department, Phone: 631-274-2806, Fax: 631-254-7140). Electronic copies of the prospectus supplement and
the accompanying prospectus are also available free of charge on the website of the SEC at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any
sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.

About Sunshine® Heart

Sunshine Heart, Inc. (Nasdaq:SSH) is a medical device company focused on developing, manufacturing and commercializing
the C-Pulse System for treatment of Class III and ambulatory Class IV heart failure. Sunshine Heart has completed an
approved U.S. Food and Drug Administration (FDA) feasibility clinical trial of the C-Pulse System and presented the results in
November 2011. In March 2012, the FDA notified the Company that it could move forward with an investigational device
exemption (IDE) application. Sunshine Heart received unconditional approval from the FDA in November 2012 to initiate its
pivotal trial. In July 2012 Sunshine Heart received CE Mark approval for its C-Pulse System in Europe. Sunshine Heart is a
Delaware corporation headquartered in Minneapolis with a wholly owned subsidiary in Australia. The Company has been listed
on the NASDAQ Capital Market since February 2012.

Forward-Looking Statements

Certain statements in this release are forward-looking statements that are based on management’s beliefs, assumptions and
expectations and information currently available to management. All statements that address future operating performance,
events or developments that we expect or anticipate will occur in the future are forward-looking statements, including, without
limitation, our expectations with respect to the net proceeds from the offering and the ultimate uses thereof, future clinical trial
activities and results including patient enrollment in trials. These forward-looking statements are subject to numerous risks and
uncertainties, including, without limitation, the possibility that our clinical trials do not meet their enrollment goals, meet their
end-points or otherwise fail, that regulatory authorities do not accept our application or approve the marketing of the C-Pulse
System, the possibility that we may be unable to raise the funds necessary for the development and commercialization of our
products, that we may not be able to commercialize our products successfully in the EU and the other risk factors described
under the caption “Risk Factors” and elsewhere in our filings with the SEC. You should not place undue reliance on forwardlooking
statements because they speak only as of the date when made and may turn out to be inaccurate. We do not assume
any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. We may not actually achieve the plans, projections or expectations disclosed in forward-looking
statements, and actual results, developments or events could differ materially from those disclosed in the forward-looking
statements.

CONTACT: For further information, please contact:
Media:
Laura Forman
Blueprint Life Science Group
T: +1-415-375-3340
Investor:
Jeff Mathiesen
Chief Financial Officer
Sunshine Heart, Inc.
T: +1-952-345-4200