Artificial heart maker Carmat completes 7 mln euro capital raising (updated)

Carmat SA

16/10/2023 06:48

(Adds details from paragraph 2 onwards)
       PARIS, Oct 16 (Reuters) - Artificial heart maker Carmat
 ALCAR.PA , whose financial situation has been under pressure,
said on Monday that it had completed a 7 million euro ($7.4
million) capital raising backed by several of its historical
financial shareholders.
    Carmat, whose shareholders include European planemaker
Airbus  AIR.PA , estimated it will nevertheless have to secure
around 50 million euros ($52.6 million) in extra financing to
cover its operations and investments until the end of October
2024.
    Airbus was not named among the shareholders participating in
the capital raising and its stake has fallen to 10.8% from
11.7%, making it the second-biggest investor down from its
earlier first position, according to Carmat.
    Carmat said it expected growth in European sales, with
revenue of between 4 million euros to 6 million euros in the
second half of 2023, and for a subsequent sharp increase in
sales in 2024.
    "We are confident in the robustness and safety of our
artificial heart, and in its strong potential, and are
determined to lead Carmat to commercial success and
profitability, with the support of our teams, shareholders and
partners, for the benefit of patients suffering from advanced
biventricular heart failure," Carmat CEO Stephane Piat said in a
statement.
    Airbus had become the largest shareholder in Carmat after
one of its own founders, the late industrialist Jean-Luc
Lagardere, diverted engineers specialising in precision missile
parts into a new venture with prominent heart surgeon Alain
Carpentier in 1993.
    ($1 = 0.9503 euros)

 (Reporting by Sudip Kar-Gupta; Editing by Jacqueline Wong and
Jamie Freed)
 ((sudip.kargupta@thomsonreuters.com;))