US-based private equity investment firm Versa Capital Management has acquired medical technology company SynCardia Systems as part of the latter's previously announced reorganisation process.
SynCardia is the developer of the temporary Total Artificial Heart (TAH-t) which is an implantable system designed to treat a failed heart in patients suffering from end-stage biventricular (both sides) heart failure.
Similar to a donor heart transplant, the SynCardia Total Artificial Heart replaces the native heart’s two failed ventricles and four valves thereby resulting inhe elimination of the source of end-stage biventricular heart failure.
It results in immediate and safe blood flow of up to 9.5l per minute through each ventricle.
The high-blood volume accelerates the recovery of vital organs.
The SynCardia TAH-t has been used to conduct more than 1,635 implants while accounting for 560 patient years of life.
SynCardia will remain headquartered in Tucson, Arizona and will be led by president and CEO Michael Garippa.
Garippa said: “The partnership with Versa provides SynCardia the resources to continue providing physicians and their patients globally with the life-saving Total Artificial Heart.
“There is greater financial and operational support to grow and flourish nationally and internationally, and to continue development of new and innovative devices.
“Our 70cc TAH-t has dominated the worldwide market, while our newer 50cc device is designed to accommodate underserved populations, including women and adolescents.”
Image: The 70cc SynCardia temporary Total Artificial Heart (TAH-t). Photo: courtesy of SynCardia Systems, Inc.