I suppose it's an interesting article on its own, but I don't know that any of its suggested premises are true. The most obvious difference between this thing and a jellyfish is that a jellyfish doesn't need an electrical bath to exist in. There are other differences of course, but if they'd built a more analogous 'jellyfish robot' that at least functioned on its own, perhaps I'd be more receptive to the article's claims.
As it stands, the notion of 'testing heart medicine' on it seem exceedingly optimistic as it's fairly hard to test a heart in isolation. Also, this isn't a heart analogue, it's a jellyfish analogue. Also, a heart doesn't react to external impulses in the same way.
It's neat. There's no taking that away from it, but I just don't see how any of what the inventor claims is actually practical.