Picard Medical, Inc. Acquires Mechanical Heart Replacement Technology

PALO ALTO, Calif., Sept. 30, 2021 /PRNewswire/ -- Picard Medical, Inc ("Picard"), a portfolio company of Hunniwell Lake Ventures, LLC, today announced that it has acquired SynCardia Systems, LLC ("SynCardia"), the global leader in mechanical heart replacement technology.  

Heart disease continues to be the number one cause of death globally, with the number of heart failure patients at roughly 64.3 million in 2017 ^[1].  With only slightly more than 5,000 heart transplants available and performed globally on an annual basis, there remains a significant need for reliable mechanical heart replacement technology.

Tucson, AZ - based SynCardia is the only company in the world with a US FDA-approved temporary Total Artificial Heart (TAH). It is also CE marked in Europe and approved for use in over 30 countries around the world.  The SynCardia TAH has been saving and extending lives in Europe and North America, having been implanted over 2,000 times to-date and it has accumulated hundreds of years of proven patient use and safety data.

SynCardia's TAH System is comprised of an implant that comes in two sizes – a 70cc version suitable for most adults and a smaller 50cc version for smaller adults and children.  The TAH is powered by a pneumatic external driver.  A larger hospital version (the "C2") or a smaller portable version, the size of a backpack, intended for clinically stable patients at home (the "Freedom®"). These devices give patients precious additional quality time with their families, to live their lives, fulfill their dreams, while waiting for a human donor heart.

Picard brings to the table technical and commercial expertise, and will help SynCardia access new technologies and manufacturing capabilities. This acquisition will also allow SynCardia to make further improvements to its existing products, provide better clinical support to physicians, and seek approval for expanded use of its devices.

"To up the game, we are investing in next-generation technologies to address ever broadening clinical needs, and make both the TAH and drivers more user friendly and accessible to a larger and growing number of patients globally." said Richard Fang, CEO of Picard Medical, Inc.  "We believe that with greater adoption of the TAH, fewer people will needlessly die because they lack access to human donor heart transplants."

Footnote:
[1] European Journal of Preventive Cardiology (2021) doi:10.1093/eurjpc/zwaa147

SOURCE Picard Medical, Inc

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