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Total Artificial Heart Manufacturer SynCardia Secures $19M Financing
Date:3/20/2013

TUCSON, Ariz., March 20, 2013 /PRNewswire/ -- SynCardia Systems, Inc. (www.syncardia.com), the privately-held manufacturer of the world's first and only FDA, Health Canada and CE (Europe) approved Total Artificial Heart, announced today the raise of $19 million of long-term growth capital, including a $15 million structured financing from Athyrium Opportunities Fund, as well as a $4 million follow-on equity investment from existing shareholders.

(Photo: http://photos.prnewswire.com/prnh/20130320/LA80277)

"The proceeds will help support commercialization of our Freedom® portable driver*, the world's first wearable power supply for the SynCardia temporary Total Artificial Heart, and accelerate the launch of our new, smaller 50cc Total Artificial Heart**, designed for patients of smaller stature, including women and adolescents," said Michael Garippa , SynCardia Chairman/CEO/President. "In 2012, we generated $25 million in revenue and a record-breaking 125 implants at more than 50 SynCardia Certified Centers worldwide."

"SynCardia's recent growth is likely the beginning of a longer-term trend," said Laurent Hermouet, a Partner of Athyrium. "The Total Artificial Heart will soon be able to address the entire biventricular heart failure market thanks to newer offerings like the Freedom driver as well as the 50cc version of the Total Artificial Heart. This broader product offering coupled with convincing clinical
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SOURCE SynCardia Systems, Inc.
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