Carmat seeks bankruptcy protection due to severe financial shortage
Carmat, a French company renowned for its advanced total artificial heart, is currently undergoing a receivership procedure following a filing for insolvency. The company, which launched its Aeson total artificial heart in 2021, is seeking financial rescue or new ownership while continuing to support patients with its innovative medical technology.
The insolvency filing was announced on June 30, 2025, with Carmat requesting to be placed in receivership with the Versailles Economic Affairs Court. This request was granted by the court after a hearing on July 1, 2025, allowing Carmat to continue operations during an observation period while seeking new investment or a buyer.
As part of the receivership process, Carmat has initiated a call for public tenders to attract potential buyers or investors. Interested parties are invited to contact the judiciary administrator appointed by the Versailles Court.
Despite the financial challenges, Carmat continues to support patients using its Aeson® artificial heart. The company resumed commercial use of the device in November 2022, following a temporary suspension due to a quality issue in 2021.
Carmat's financial troubles began to surface in September 2023, when supply chain issues caused sales growth to slow, shrinking the company's cash runway to just one month. Despite several fundraising efforts, including a conditional approval to enroll a second cohort in its U.S. study in April and the successful completion of a French trial in May, Carmat fell short of its goal to raise the necessary 35 million euros ($41 million) to fund operations for the next 12 months.
In response to the financial crisis, Carmat launched a crowdfunding campaign in an attempt to raise additional funds. However, the campaign raised only 20,110 euros, far short of the 3.5 million euros needed to fund operations into July.
In a positive development, Carmat secured conditional approval to enroll a second cohort in its U.S. study in April and aims to use these studies to secure reimbursement for Aeson in France in 2026 and potentially bring the device to the U.S. market in 2028.
Carmat's stock trading on Euronext has been suspended until the court's decision regarding the receivership request, which is scheduled to take place in the coming days. The company believes that receivership is the most appropriate way to ensure the continuation of its business activities.
In conclusion, Carmat, the French artificial heart company, is currently navigating through a challenging financial period. Despite the difficulties, the company remains committed to its mission of developing and providing advanced artificial heart solutions while actively seeking financial rescue or new ownership.
- The FDA is monitoring Carmat's financial predicament, given the company's Aeson total artificial heart is undergoing clinical trials in the U.S.
- Medtech analysts are closely watching Carmat's receivership process, as the outcome could impact the medical-conditions sector, where artificial hearts play a significant role in health-and-wellness.
- AI algorithms are being used to analyze Carmat's financial data, helping potential investors to assess the risks and returns of becoming involved with the business.
- News outlets covering health-and-wellness, finance, and business are following Carmat's story, with many articles discussing the company's insolvency and search for new investors.
- The success of Carmat's artificial heart could potentially disrupt the medical equipment manufacturing business, as advances in medtech continue to reshape the landscape of health-and-wellness.
