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Versa Capital buys US medical technology firm SynCardia Systems

Versa Capital Management has acquired US medical technology company SynCardia Systems for an undisclosed sum.

Based in Tucson of Arizona, SynCardia  is engaged in the development, manufacturing and marketing of SynCardia temporary total artificial heart (TAH-t).

The company developed an implantable system to assume the full function of a failed human heart in patients suffering from end-stage biventricular (both sides) heart failure.

SynCardia TAH-t is claimed to be the only total artificial heart that is commercially available to the patients.

The system received approval from the US Food and Drug Administration (FDA) and Health Canada. It also secured CE mark approval to market in the European Union.

SynCardia TAH-t was approved for use as a bridge to donor heart transplantation

SynCardia will continue to operate under the leadership of its 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.”

Versa chairman and CEO Gregory Segall said: “SynCardia is the unrivalled global leader in the artificial heart market, representing over 95% of all hearts ever implanted.

“We are excited to work with Michael and his team to fully implement their vision for supporting this critically important and valuable product and market.”

Image: The Syncardia temporary total artificial heart. Photo: courtesy of SynCardia Systems Inc.