August 19, 2017 1:03 PM ET

Healthcare Equipment and Supplies

Company Overview of SynCardia Systems, Inc.

Company Overview

SynCardia Systems, Inc., a medical technology company, focuses on developing, manufacturing, and commercializing the SynCardia temporary Total Artificial Heart (TAH-t) in the United States, European Union, and Canada. Its SynCardia TAH-t is an implantable system designed to assume the full function of a failed human heart in patients suffering from advanced heart failure. The company was founded in 2001 and is headquartered in Tucson, Arizona.

1992 East Silverlake Road

Tucson, AZ 85713

United States

Founded in 2001

116 Employees

Phone:

520-545-1234

Fax:

520-903-1783

Key Executives for SynCardia Systems, Inc.

Chief Executive Officer, President and Director
Age: 62
Co-Founder and Director
Age: 74
Co-Founder, Chief Scientific & Medical Officer and Chairman of Science Advisory Board
Age: 61
Vice President of Finance
Senior Vice President of Global Certification and Logistics
Compensation as of Fiscal Year 2017.

SynCardia Systems, Inc. Key Developments

SynCardia Systems Names Brian Brogie as New VP of Manufacturing and Facilities

SynCardia Systems, LLC announced that Brian Brogie has joined the company as Vice President of Manufacturing and Facilities. Brogie will oversee manufacturing of SynCardia’s product line, which includes the commercially approved 70cc SynCardia temporary Total Artificial Heart; the new, investigational 50cc Total Artificial Heart for smaller patients; the Companion 2 hospital driver for powering the Total Artificial Heart from implant until the patient stabilizes; and the Freedom® portable driver, a wearable power supply that allows clinically stable patients to be discharged from the hospital. Prior to joining SynCardia, Brogie served as Director of Manufacturing for Gilead Sciences, Inc., where he led a team responsible for manufacturing two injectable drug products and packaging 12 solid oral dose products.

Motion for Asset Sale Approved for SynCardia Systems, Inc.

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of SynCardia Systems, Inc. on September 16, 2016. The debtor has been authorized to sell substantially all its assets to Sindex SSI Lending, LLC, the stalking horse bidder for a purchase price of for a purchase price of $0.40 million in cash and a partial credit bid of $19 million plus amounts owing under the debtor in possession financing facility and the assumption of certain liabilities pursuant to the asset purchase agreement. The debtor did not receive any other competing bids for the purchase of its assets and therefore Sindex SSI Lending, LLC emerged as the winning bidder.

Notice for Selection of Successful Bidder and Cancellation of Auction for SynCardia Systems, Inc.

SynCardia Systems, Inc. filed a notice in the US Bankruptcy Court for selection of successful bidder and cancellation of auction for the sale of substantially all its assets on September 13, 2016. As per the notice filed, the debtor did not receive any qualified bids and hence the auction scheduled for September 14, 2016 has been cancelled and Sindex SSI Lending, LLC, the stalking horse bidder, has been selected as the successful bidder.

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Recent Private Companies Transactions

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Date
Target
No transactions available in the past 12 months.
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