Picard Medical and Subsidiary SynCardia Systems Merging with Altitude Acquisition in $480M Deal

Picard Medical and its unit SynCardia Systems today announced a definitive merger agreement with Altitude Acquisition at a pre-money enterprise value of $480 million. SynCardia is engaged in mechanical heart replacement technology.

If approved, upon closing Picard Medical Holdings would list on the .

Terms call for the combined company to have at least $38 million in net cash at closing. Existing Picard Medical equity holders will roll 100% of their equity into the merged enterprise.

Altitude teased the deal with the announcement of an LOI in December.

SynCardia in a press release said it manufactures, sells, and markets the world's first and only FDA approved and commercially available Total Artificial Heart to replace the full functions of a failing or failed human heart caused by end-stage, biventricular heart failure. Read more.


Source: Picard Medical and Subsidiary SynCardia Systems Merging with Altitude Acquisition in 0M Deal