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CARMAT provides an update on the ongoing receivership procedure – 01/10/2025

Paris, October 1, 2025 – 7:30 am (CEST)    

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today provides an update on the ongoing receivership procedure.

 

Update on the ongoing receivership procedure

Following a call for public tenders (buyers or investors) initiated as part of the receivership opened on July 1, 2025, by the Versailles Economic Court[1] (the “Court”), the judiciary administrator had received, on July 31, 2025, one takeover bid within the context of a sales plan (the “Bid”)[2], submitted by HOUGOU, the family office of Mr Pierre Bastid (the “Buyer”), who is CARMAT’s chairman of the board and holds about 17% of CARMAT shares.

During a hearing held on August 19, 2025, the Court had granted the Buyer more time to finalize his Bid and lift the conditions precedent with a view to then get the Bid assessed by the Court during a hearing scheduled on September 30, 2025.

During the hearing on September 30, 2025, the Court acknowledged that the Bid had lapsed, given the fact that the Buyer had not been able to lift all conditions precedent, notably the one relating to securing the financing required for the takeover bid.

The judiciary administrator has thus submitted to the Court a request aiming at converting the receivership into a liquidation procedure, which should be reviewed by the Court during a hearing scheduled on October 14, 2025.

At this stage, it is thus now extremely probable that the Court will, on October 14, 2025, decide the liquidation of the Company, which operations will then stop.

CARMAT again draws attention to the fact that in that case, given the Company’s level of liabilities, it is highly probable that the shareholders will lose the total value of their investment, while a major part of CARMAT’s creditors will incur a very significant loss of up to the total value of their receivables. The Company also reminds that a liquidation will lead to the delisting of its shares currently listed on Euronext Growth (Paris).

 

Next Steps

Trading of CARMAT shares (ISIN code: FR0010907956, Ticker: ALCAR) remains suspended.

Another press release will be issued by the Company once the outcome of the court hearing scheduled on October 14, 2025 is known.

In any case, the support to patients who currently benefit from its Aeson® artificial heart, is CARMAT’s priority, so the Company endeavors for this continuous support to get provided even if CARMAT is liquidated and its operations stop.

[1] Tribunal des Activités Economiques de Versailles.

[2] « Offre de reprise en plan de cession » (in French).

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Paris, September 29, 2025 – 2:00 pm (CEST)    

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today provides an update on the ongoing receivership procedure.

 

Update on the ongoing receivership procedure

Following a call for public tenders (buyers or investors) initiated as part of the receivership opened on July 1, 2025, by the Versailles Economic Court[1] (the “Court”), the judiciary administrator had received, on July 31, 2025, one takeover bid within the context of a sales plan (the “Bid”)[2], submitted by HOUGOU, the family office of Mr Pierre Bastid (the “Buyer”), who is CARMAT’s chairman of the board and holds about 17% of CARMAT shares.

During a hearing held on August 19, 2025, the Court granted the Buyer more time to finalize his Bid and lift the conditions precedent with a view to then get the Bid be assessed by the Court during a hearing scheduled on September 30, 2025.

As of today, the Buyer has however not been in position to confirm his Bid given the fact that he has not managed to secure the financing required for the takeover bid.

At this stage, it is thus now extremely probable that the Bid will lapse on September 30, 2025, and that the Court will, in the very short term, decide the liquidation of the Company, which operations will then stop.

CARMAT again draws attention to the fact that in that case, given the Company’s level of liabilities, it is highly probable that the shareholders will lose the total value of their investment, while a major part of CARMAT’s creditors will incur a very significant loss of up to the total value of their receivables. The Company also reminds that a liquidation will lead to the delisting of its shares currently listed on Euronext Growth (Paris).

 

Next Steps

Trading of CARMAT shares (ISIN code: FR0010907956, Ticker: ALCAR) remains suspended.

Another press release will be issued by the Company once the outcome of the court hearing scheduled on September 30, 2025 is known.

In any case, the support to patients who currently benefit from its Aeson® artificial heart, is CARMAT’s priority, so the Company endeavors for this continuous support to get provided even if CARMAT is liquidated and its operations stop.

 

[1] Tribunal des Activités Economiques de Versailles.

[2] « Offre de reprise en plan de cession » (in French).

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Trading of CARMAT shares suspended, starting September 25, 2025, before stock market opening, ahead of the court hearing scheduled on September 30, 2025

 

Paris, September 24, 2025 – 6:00 pm CEST    

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today provides an update on the ongoing receivership procedure and announces the suspension of trading in CARMAT shares, starting September 25, 2025, before stock market opening, ahead of the court hearing scheduled on September 30, 2025.

 

Update on the ongoing receivership procedure

Following a call for public tenders (buyers or investors) initiated as part of the receivership opened on July 1, 2025, by the Versailles Economic Court[1] (the “Court”), the judiciary administrator had received, on July 31, 2025, one takeover bid within the context of a sales plan (the “Bid”)[2], submitted by HOUGOU, the family office of Mr Pierre Bastid (the “Buyer”), who is CARMAT’s chairman of the board and holds about 17% of CARMAT shares.

During the last hearing held on August 19, 2025, the Court granted the Buyer more time to finalize his Bid and lift the conditions precedent. The final Bid which must be submitted no later than September 25, 2025, will be assessed by the Court during a hearing scheduled on September 30, 2025.

It is reminded that given the provision of €1.3m in cash made by the Buyer to CARMAT[3] following the hearing held on August 19, 2025, the Company’s cash runway has been extended until early October 2025.

The Company again draws attention to the fact that there is no guarantee at this stage that the Bid will be successful i.e. that the conditions precedent will be met and that the Court will validate this Bid following the hearing scheduled on September 30, 2025. If the Bid is not successful, it is highly probable that CARMAT will be liquidated (under the rules applicable to judicial liquidations) and its operations will stop. In such a case, it is highly probable that the shareholders will lose the total value of their investment, while a major part of CARMAT’s creditors will incur a very significant loss of up to the total value of their receivables.

Conversely, if the Bid is ultimately validated by the Court, CARMAT’s operations will be transferred to the Buyer and will thus continue as part of another legal entity. In this scenario, CARMAT will also be liquidated (under the rules applicable to judicial liquidations) and given current terms of the Bid and CARMAT’s level of liabilities, it is highly probable that also in that case, the shareholders will lose the total value of their investment, while a major part of CARMAT’s creditors will incur a very significant loss of up to the total value of their receivables.

At this stage, it is thus very probable that in any case, CARMAT will be liquidated very shortly (under the rules applicable to judicial liquidations), which will lead the Company to request the delisting of its shares from Euronext.

 

Suspension of CARMAT shares trading (ISIN code: FR0010907956, Ticker: ALCAR)

Ahead of the court hearing scheduled on September 30, 2025, CARMAT has asked Euronext to suspend the trading of its shares starting on September 25, 2025, before the stock market opens.

Another press release will be issued by the Company once the outcome of the court hearing is known.

In any case, even if the Company is liquidated and its operations stop, CARMAT endeavors to take the necessary steps so that continuous support to patients who currently benefit from its Aeson® artificial heart is provided.

[1] Tribunal des Activités Economiques de Versailles.

[2] « Offre de reprise en plan de cession » (in French).

[3] These funds are not refundable and will thus be retained by CARMAT even if the Bid is not ultimately successful.

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Resumption of CARMAT shares trading starting on August 21, 2025, at stock market opening

Paris, August 20, 2025 – 7:00 am CEST

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today provides an update on the ongoing receivership procedure and announces the resumption of CARMAT shares trading, starting on August 21, 2025, at stock market opening.

Update on the ongoing receivership procedure

Following a call for public tenders (buyers or investors) initiated as part of the receivership opened on July 1, 2025, one takeover bid within the context of a sales plan (the “Bid”), had been received and could be improved until August 13, 2025 included. This Bid was discussed with the Versailles Economic Court (the “Court”) at a hearing held on August 19, 2025.

The Bid was submitted by HOUGOU, the family office of Mr Pierre Bastid (the “Buyer”), who is CARMAT’s chairman of the board and holds about 17% of CARMAT shares .

Following the hearing and upon the Buyer’s request, the Court granted him more time to finalize his Bid and lift the conditions precedent. The Bid will thus be assessed again by the Court during a hearing scheduled on September 30, 2025.

In order to enable CARMAT to fund its activities until that date and to protect creditors’ interests despite this delay, the Buyer will immediately provide €1.3m in cash to CARMAT. These funds are not refundable and will be retained by the Company even if ultimately, the Bid is not successful .

The Company again draws attention to the fact that there is no guarantee at this stage that the Bid will be successful i.e. that the conditions precedent will be met and that the Court will validate this Bid following the hearing now scheduled on September 30, 2025. If the Bid is not successful, it is highly probable that CARMAT will be liquidated (under the rules applicable to judicial liquidations) and its operations will stop. In such a case, it is highly probable that the shareholders will lose the total value of their investment, while a major part of CARMAT’s creditors will incur a very significant loss of up to the total value of their receivables.

Conversely, if the Bid is ultimately validated by the Court, CARMAT’s operations will be transferred to the Buyer and will continue as part of another legal entity. In this event, CARMAT will also be liquidated (under the rules applicable to judicial liquidations), and the Company draws attention to the fact that given current terms of the Bid and CARMAT’s level of liabilities, it is highly probable that also in that case, the shareholders will lose the total value of their investment, while a major part of CARMAT’s creditors will incur a very significant loss of up to the total value of their receivables.

At this stage, it is thus very probable that in any case, CARMAT will be liquidated very shortly (under the rules applicable to judicial liquidations), which will lead the Company to request the delisting of its shares from Euronext.

Resumption of CARMAT shares trading (ISIN code: FR0010907956, Ticker: ALCAR)

CARMAT is going to ask Euronext to resume the trading of its shares starting on August 21, 2025, at stock market opening.

Next steps

Pending the next hearing scheduled on September 30, 2025, CARMAT continues to focus its activities, on one hand on supporting patients already implanted with its Aeson® artificial heart, and on the other hand, on regulatory and operational activities deemed key in view of resuming operations in the best possible way once its financial sustainability has been secured. In particular, the Company keeps suspending all new Aeson® implants, whether for commercial purpose or as part of clinical trials.

Press releases will be issued regularly as the Company’s situation evolves and the proceedings progress.

In any case, even if the Company is liquidated and its operations stop, CARMAT endeavors to take the necessary steps so that continuous support to patients who currently benefit from its Aeson® artificial heart is provided.

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Trading of CARMAT shares suspended, starting August 14, 2025, before stock market opening, ahead of the court hearing scheduled on August 19, 2025

 

 

Paris, August 13, 2025 – 6:00 pm CEST    

 

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today provides an update on the ongoing receivership procedure and announces the suspension of trading in CARMAT shares, starting August 14, 2025, before stock market opening, ahead of the court hearing scheduled on August 19, 2025.

 

 

Update on the ongoing receivership procedure

 

Following a call for public tenders (buyers or investors) initiated as part of the receivership opened on July 1, 2025, the judiciary administrator had received, by the deadline of July 31, 2025, one takeover bid within the context of a sales plan (the “Bid”)[1].

 

This Bid will be assessed by the Versailles Economic Court[2] (the “Court”) at a hearing scheduled on August 19, 2025.

 

The Company again draws attention to the fact that there is no guarantee at this stage that this Bid will be successful. The Company also reminds that even if the Bid is validated by the Court, the Company’s shareholders and creditors may incur a significant loss of up to the total value of their investment or receivables. CARMAT is subject to a risk of liquidation, including in the short term.

 

Suspension of CARMAT shares trading (ISIN code: FR0010907956, Ticker: ALCAR)

 

Ahead of the court hearing scheduled on August 19, 2025, CARMAT has asked Euronext to suspend the trading of its shares starting on August 14, 2025, before the stock market opens.

 

Another press release will be issued by the Company once the outcome of the court hearing is known.

 

In any case, CARMAT endeavors to provide continuous support to patients who currently benefit from its Aeson® artificial heart.

[1] « Offre de reprise en plan de cession » (in French).

[2] Tribunal des Activités Economiques de Versailles.

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  • One takeover bid within the context of a sales plan[1] has been received by the judiciary administrator
  • Resumption of CARMAT shares trading starting on August 4, 2025, at stock market opening

 

Paris, August 1, 2025 – 2:00 pm CEST

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today provides an update on the ongoing receivership procedure and announces the resumption of CARMAT shares trading, starting on August 4, 2025, at stock market opening.

 

Update on the ongoing receivership procedure

On July 3, 2025, CARMAT had announced the initiation of a call for public tenders (buyers or investors) as part of the receivership opened on July 1, 2025. The deadline for submitting offers was July 31, 2025.

At that date, one takeover bid within the context of a sales plan (the “Bid”) has been received by the judiciary administrator. The Bid, which is still subject to adjustments, will be assessed by the Versailles Economic Court (the “Court”) at a hearing scheduled on August 19, 2025.

The Company draws attention to the fact that there is no guarantee at this stage that this Bid will be successful. As a consequence, CARMAT remains subject to a risk of liquidation, including in the short term. The Company also reminds that even if the Bid is validated by the Court, the Company’s shareholders and creditors may incur a significant loss of up to the total value of their investment or receivables.

 

Resumption of CARMAT shares trading (ISIN code: FR0010907956, Ticker: ALCAR)

CARMAT is going to ask Euronext to resume the trading of its shares starting on August 4, 2025, at stock market opening.

Press releases will be issued regularly as the Company’s situation evolves and the proceedings progress.

In any case, CARMAT endeavors to provide continuous support to patients who currently benefit from its Aeson® artificial heart.

 

[1] In French : « Offre de reprise en plan de cession ».

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Trading of CARMAT shares suspended, starting July 30, 2025, before stock market opening, ahead of the deadline of July 31, 2025 for submitting takeover or investment offers

 

Paris, July 29, 2025 – 6:00 pm CEST

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today provides an update on its situation and the ongoing receivership procedure and announces the suspension of trading in CARMAT shares, starting July 30, 2025, before stock market opening, ahead of the deadline of July 31, 2025 for submitting takeover or investment offers, set by the judiciary administrator.

 

Update on Company’s operations and cash runway

Given its limited financial resources, the Company has, since the beginning of the observation period on July 1, 2025, reduced its activities to focus on the one hand on supporting patients already implanted with its Aeson® artificial heart, and on the other hand, on regulatory and operational activities deemed key in view of resuming operations in the best possible way once its financial sustainability has been secured, i.e. obtaining CE marking under “MDR” regulation, maintaining infrastructures, particularly for manufacturing, pursuing Aeson® enhancements with a view to releasing a product version suitable for long-term patient support by the end of 2025, and preparing for the publication of the EFICAS clinical study results at the end of the year.

In this context of uncertainty, all new Aeson® implants, whether for commercial purposes or as part of clinical trials are suspended during the months of July and August 2025.

As a result of the above, the Company’s cash runway has been extended until the end of August 2025.

 

Update on the ongoing receivership procedure

On July 3, 2025, CARMAT had announced the initiation of a call for public tenders (buyers or investors) as part of the receivership procedure opened on July 1, 2025 by the Versailles Economic Affairs Court (the “Court”). The deadline for submitting offers (the “Offers”) is July 31, 2025.

The next Court hearing is scheduled on August 19, 2025. Should Offers be received by the judiciary administrator, they would be examined by the Court at this hearing.

 

Suspension of CARMAT shares trading (ISIN code: FR0010907956, Ticker: ALCAR)

Ahead of the deadline for submitting Offers, i.e., July 31, 2025, CARMAT has asked Euronext to suspend the trading of its shares starting on Wednesday, July 30, 2025, before the stock market opens.

The Company anticipates this suspension to be lifted once the outcome of the Offers’ submission process is known and communicated to the market.

Press releases will be issued regularly as the Company’s situation evolves and the proceedings progress.

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Paris, July 28, 2025 – 6:00 pm CEST

 

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today announces that it has obtained CE marking under Regulation (EU) 2017/745 on medical devices (Medical Devices Regulation – MDR), which replaces the former Medical Device Directive (MDD 93/42/EEC). This new certification covers the bridge to transplant (BTT) indication and applies to the Aeson® system as a Class III active implantable medical device.

 

 

MDR CE marking certifies Aeson®’s compliance with the most stringent European regulatory requirements

 

The MDR CE marking certifies Aeson®’s compliance with the latest European standards and requirements relating to patient safety, clinical performance, risk management, and post-market surveillance. It was granted following a rigorous and comprehensive review conducted by the notified body DEKRA.

 

In December 2020, Aeson® had obtained CE marking in the bridge to transplant indication, under the Medical Device Directive (MDD), which was in force at the time. Since then, the MDD has been replaced by the Medical Device Regulation (MDR), which significantly strengthens the requirements to be met. Class III medical devices such as Aeson®, which were CE marked under the MDD before May 2021, have until May 2027 to obtain MDR CE marking. Failing to do so would mean the device could no longer be marketed in the European Union after this date.

 

The MDR certification confirms and reinforces Aeson®’s recognition by health authorities.

 

 

A strengthened regulatory foundation to support European and international growth and future extension of Aeson®’s indications

 

Obtaining MDR CE marking, well ahead of the transition deadline, means that from a regulatory perspective, Aeson® can continue to be marketed in the European Union[1] beyond May 2027.

 

This certification also reinforces the Company’s position in view of a future expansion of Aeson®’s indications, notably towards destination therapy[2] (DT), as well as in its U.S. market access strategy, currently targeted for 2028.

 

As a reminder, Aeson® is currently the only CE-marked implantable total artificial heart.

 

 

Readers are also reminded that the Company is currently placed in receivership procedure (opened on July 1, 2025) and is therefore facing a very high risk of default, including in the very short term.

 

 

 

 

 

Stéphane Piat, Chief Executive Officer of CARMAT, concludes: “I would like to congratulate our teams on obtaining MDR CE marking for the Aeson® artificial heart, following an extremely demanding process that mobilized many of our employees for months. I would like to underline that Aeson® is, and currently remains, the only implantable artificial heart being CE-marked and thus marketed in Europe. In the particular context in which CARMAT currently finds itself, this MDR certification is a further independent recognition of Aeson®’s quality and performance by health authorities. From a regulatory perspective, we have thus already secured the right to continue marketing Aeson® across Europe even beyond 2027, for patients suffering from advanced heart failure. I hope we will successfully get out of the receivership procedure we are currently in, so that patients can effectively continue benefitting from our therapy going forward. Finally, I would like to add that the “MDR” CE marking is also extremely important in view of getting access to the U.S. market, and future extension of Aeson®’s indications towards permanent patient support.”

[1] and in other countries which recognize CE marking.

[2] Destination therapy (or DT): in this indication, Aeson® would be implanted permanently without subsequent heart transplantation.

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