Picard Medical announced Thursday, Sep. 30, that it has acquired SynCardia Systems, a Arizona-based company known for its mechanical heart replacement technology.
Picard Medical is a portfolio company of Hunniwell Lake Ventures, a California-based venture capital firm focused on medical devices. Syncardia’s Total Artificial Heart (TAH) solution has already been implanted in 2,000 patients around the world. It comes in two sizes and can be used with both adult and pediatric patients.
The acquisition is expected to help Syncardia make improvements to its product line, communicate with healthcare providers and seek out additional regulatory approvals as needed.
“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,” Richard Fang, CEO of Picard Medical, said in a statement. “We believe that with greater adoption of the TAH, fewer people will needlessly die because they lack access to human donor heart transplants.”
No financial details of the acquisition have been announced at this time.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.