Carmat Secures Another Lifeline: Race to Find a Buyer for Its Artificial Heart by 2025

Why Is Carmat’s Artificial Heart Such a Big Deal?

Carmat’s fully implantable artificial heart is one of the most ambitious medical innovations of the past decade. Designed to mimic the human heart’s natural function, it offers hope for patients with end-stage heart failure who have no other treatment options. Unlike earlier models, Carmat’s device uses biocompatible materials to reduce rejection risks—a major leap forward.

What’s the Financial Backstory?

The company has burned through cash faster than expected. Despite raising €150 million in its 2020 IPO, production delays and regulatory hurdles have drained reserves. By Q2 2025, Carmat’s stock (EPA: ALCAR) had plummeted 80% from its peak. Analysts at BTCC Markets noted, "The tech is revolutionary, but commercialization has been a nightmare."

Who Might Step In as a Buyer?

Rumors suggest Medtronic or Johnson & Johnson could be potential suitors. Both have DEEP pockets and existing cardiac device divisions. However, industry insiders whisper that private equity might swoop in first—if only to strip the patents. "It’s a fire sale," quipped one Paris-based fund manager.

How Did We Get Here?

Carmat’s troubles began in 2023 when the European Medicines Agency demanded additional clinical data. Then came the U.S. FDA’s rejection in 2024 over durability concerns. Each setback triggered shareholder lawsuits. The company now has until December 2025 to secure a deal or face liquidation.

What Does This Mean for Patients?

Over 300 patients worldwide currently rely on Carmat hearts. If production halts, these individuals face uncertain futures. "We’re talking about lives, not just balance sheets," stressed Dr. Léa Moreau, a cardiologist at Paris’ Pitié-Salpêtrière Hospital.

Could This Tech Still Succeed?

Absolutely. The underlying science remains sound. As BTCC’s lead medtech analyst observed, "Someone will buy this—the question is whether they’ll prioritize profits or patients." With global heart failure cases projected to rise 25% by 2030, the market potential is undeniable.

What’s Next for Carmat?

All eyes are on CEO Stéphane Piat’s negotiations. The extended deadline (reportedly 90 days) provides breathing room, but the clock is ticking. Piat must convince buyers that Carmat’s technology—and its €200 million in accumulated losses—are worth the gamble.

Final Thought: Innovation vs. Survival

Carmat’s saga highlights the brutal reality of medtech: Breakthroughs don’t guarantee business success. As one venture capitalist put it, "You can build a better heart, but you still need a working business model."