SYMETIS
Symetis, a medical technology company specializing in the development, manufacturing and marketing of next-generation percutaneous heart valve replacement solutions for the treatment of severe cardiac valve conditions, announced today that it has purchased Middle Peak Medical, a private U.S. and German medical device company focused on developing minimally invasive novel solutions for unmet needs in the treatment of mitral valve regurgitation. The acquisition marks Symetis’ first expansion from the TAVI space into the broader structural heart segment.
Symetis has been successfully growing, with a 55% CAGR for the period 2012-2016 and a CHF 38.4 million revenue in 2016. Currently N°3 in Germany - the first TAVI market in Europe - with 13% market share2 , and N°4 in Europe with 7% market share, Symetis intends to leverage its existing fully-integrated organisation and technology base to synergistically develop Middle Peak Medical’s pre-clinical mitral program, with a view to drive a new revenue growth line for the company at marginal additional cost.
Although more complex than TAVI, the mitral valve repair and replacement market is expected to follow TAVI’s market trend and grow at a CAGR of 22% during the period 2016-2020 as the procedure becomes more widespread3 . The growth for mitral valve repair and replacement is mainly driven by the mitral regurgitation segment, which affects 2-3% of the population worldwide and is rapidly becoming prevalent among all age groups. About 0.5% of individuals aged 18-45 and 9% of people aged 60-75 suffer from the disorder.4
Mitral regurgitation is a condition in which the heart's mitral valve does not close tightly enough, allowing blood to flow backward in the heart and potentially leading over time to declining heart function and heart failure. Middle Peak Medical’s transcatheter device, based upon a clinically proven surgical concept, is intended to restore mitral valve competence in both functional and degenerative mitral valve disease by providing a new posterior surface onto which the valve anterior leaflet can properly seal.
Jacques R. Essinger, PhD, Chief Executive Officer of Symetis, commented: “Symetis’ perspectives in TAVI look very strong with continued product adoption in Europe; a solid R&D pipeline of new and improved TAVI valves, delivery systems and accessories; and an ongoing clinical program to further support Symetis’ products performance. We also intend to continue our expansion outside Europe, including in Asia with a focus on Japan, and clear plans for the US market. The acquisition of Middle Peak Medical represents a strategic opportunity to expand our presence in structural hearth therapies, synergistically leveraging the fully-fledged organisation built-up over the past 10 years for our ACURATE product range in the TAVI segment.”
Alex Khairkhahan, Founder and Chief Executive Officer of Middle Peak Medical, commented: “We are delighted to join the Symetis team and to combine expertise and resources to efficiently bring our unique mitral solution to the market. We will continue to operate from our Palo Alto operation while leveraging the established presence of Symetis in Europe.”
Middle Peak Medical device is not currently approved for sales in any country.
About the mitral valve and mitral valve diseases
The mitral valve is the most complex of the heart’s four valves (aortic, mitral, pulmonary and tricuspid) and is the one most commonly associated with valvular heart disease. Mitral valve disease refers to irregular conditions of the mitral valve, which is located between the two left chambers of the heart and works to keep blood flowing from the left atrium to the left ventricle while preventing it from flowing backward. There are three types of mitral valve disease: stenosis, prolapse and regurgitation. Mitral regurgitation is a condition in which the heart's mitral valve does not close tightly enough, allowing blood to flow backward in the heart. As a result, blood cannot move through the heart or to the rest of the body as efficiently, making patients feel tired or out of breath. Left untreated, severe mitral valve regurgitation can cause heart failure or heart rhythm problems (arrhythmias).
About Symetis
Symetis, founded in 2001, is a medical technology company specializing in the development, manufacturing and marketing of next-generation percutaneous heart valve replacement solutions for the treatment of severe cardiac valve conditions.
Symetis’ products, ACURATE TA™ and ACURATE neo/TF, and their delivery systems are based on proprietary design and delivery technologies and are marketed and sold in key markets in Europe and in other geographies. Symetis’ innovative TAVI solutions are recognized by intervention cardiologists and surgeons for their clinical performance and ease of use. The company believes it is positioned to leverage its products and know-how to further capture market share in the TAVI market and expand into other segments of the structural heart field, such as but not limited to mitral valve replacement and/or repair as well as tricuspid replacement and/or repair.
Growing at a strong and sustained CAGR of 55% since 2012, the company generated revenues of CHF 38.4 million in 2016.
Symetis is a Swiss company with corporate headquarters in Ecublens, Switzerland and products produced in two facilities located in Switzerland and Brazil. As of December 31, 2016, the Group’s staff amounted to a total of 291 full-time employees, which consisted of 104 full-time employees employed directly by the Group and 187 full-time employees procured through Acurate Industria E Comercio Ltda.
For more information, please visit http://www.symetis.com
About Middle Peak Medical
Middle Peak Medical, founded in 2011 is a privately held medical device company focusing on the development and commercialization of a novel approaches to treating mitral valve disease. Middle Peak Medical technology is intended to restore mitral valve competence in both functional and degenerative mitral valve disorders. The company’s proprietary technology has application in both percutaneous catheter-based intervention, and in minimally invasive or open-heart cardiac surgery.
For more information visit http://www.middlepeakmedical.com
Not for distribution in or into Australia, Canada, Japan, New Zealand, South Africa or the United States
1
Global Transcatheter Mitral Valve Replacement Market
2016-2020, TechNavio, July 2016
2
Source : BIBA Q3/2016
based upon units implanted
3
Global Transcatheter Mitral
Valve Replacement Market 2016-2020, TechNavio, July 2016
4
Ibid
View source version on businesswire.com: http://www.businesswire.com/news/home/20170214005630/en/
Contact:
Media Contact
Symetis
Alphonse Daudré-Vignier, +
41 (0) 79 127 63 58
Weber Shandwick Switzerland
adaudre-vignier@webershandwick.com
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Access Advance Announces HEVC Advance and VVC Advance Pricing through 203022.7.2025 02:00:00 CEST | Press release
Access Advance LLC (“Advance”) today announced the results of several significant decisions by the Licensors in both the HEVC Advance and VVC Advance Patent Pools. Both patent pools opted to maintain their current royalty rates and caps for Licensees who sign before December 31, 2025, and to extend an incentive that aligns the royalty caps for Advance’s Multi-Codec Bridging Agreement (“MCBA”) and the VVC Advance Patent Pool for Licensees who sign the MCBA during the same period. The result is that Licensees who join the HEVC Advance program, gaining access to more than 27,000 patents, on or before December 31, 2025, can lock in current rates and caps through 2030. This protection applies both to ongoing royalty obligations and calculation of royalties due for past sales. Additionally, both current and new HEVC Advance Licensees who join the VVC Advance Patent Pool and execute the MCBA by December 31, 2025, will enjoy MCBA royalty caps that match the royalty caps for the VVC Advance pro
Andersen Consulting tilføjer ekspertise inden for markedsadgang med Prime Action i Brasilien22.7.2025 00:50:00 CEST | Pressemeddelelse
Andersen Consulting styrker sin kapacitet i Latinamerika med tilføjelsen af samarbejdsfirmaet Prime Action Consulting, et firma med speciale i markedsadgangsstrategi og channel management inden for bil-, landbrugs-, bank-, medicinal- og telekommunikationssektoren. Prime Action leverer komplette kommercielle konsulenttjenester for at hjælpe organisationer med at optimere deres go-to-market-strategier og forbedre resultaterne på tværs af salgs- og distributionskanaler. Firmaets tilbud omfatter markedsadgangsstrategi, intelligent channel management, udarbejdelse af handels- og distributionspolitik, kanaludviklingstjenester og uddannelse, som alle er designet til at skabe effektivitet og kundetilpasning gennem strukturerede processer, standarder og målrettet eksekvering. Prime Action arbejder med førende virksomheder i hele Latinamerika og følger ikke blot kunderne fra planlægning til implementering, men også efter implementeringen, hvor de tilbyder relevant uddannelse og evaluering for at
MayMaan Launches Engine Integration Program to Accelerate Clean Combustion Deployment and Market Adoption21.7.2025 19:34:00 CEST | Press release
Company unveils a comprehensive framework to empower manufacturers, OEMs, distributors and service partners with drop-in clean combustion solutions MayMaan, a scale-up innovator, transforming combustion technology, is announcing a robust and scalable partnership model to support the transition to more efficient power systems across global industries whilst cutting harmful emissions such as NOx and SOx to levels that are practically immeasurable. At the heart of MayMaan’s offering is its proprietary AquaStroke® technology, which runs on a revolutionary 70% water and 30% ethanol fuel blend. This patented system delivers high torque and reliability while dramatically reducing emissions—offering a compelling alternative to diesel engines and electrification overhauls. “Our technology is more than a breakthrough—it’s a platform designed to help others succeed,” said Doron Shmueli, Founder and CEO at MayMaan. “From manufacturers to distributors, we provide a full solution—ready to integrate,
Armis Named a Leader in Unified Vulnerability Management Solutions, Q3 2025 Evaluation21.7.2025 17:25:00 CEST | Press release
Company achieved the highest score of all providers for its Current Offering Armis, the cyber exposure management & security company, today announced that it has been named a Leader in The Forrester Wave™: Unified Vulnerability Management Solutions, Q3 2025. In this Forrester Wave™, Armis is ranked a Leader and achieved the highest score in the Current Offering category. According to the report, “Armis’ strategy is grounded in proactive security principles… Armis is an excellent fit for either beginner organizations starting their proactive security journey or mature organizations that need leading vulnerability response capabilities.” “I believe Armis stood out as a Leader because Armis CentrixTM is different – it’s a platform built to help organizations reduce cyber risk, not just report on it,” said Yevgeny Dibrov, CEO and Co-Founder of Armis. “We are redefining what security should look like in a connected world, helping organizations move from passive defense to proactive control
DevvStream Completes $10M Initial Funding to Launch $300M Asset-Backed Digital Infrastructure and Sustainability Strategy21.7.2025 17:00:00 CEST | Press release
DevvStream Corp. (Nasdaq: DEVS) (“DevvStream” or the “Company”), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced that it has entered into a securities purchase agreement for the issuance of up to (US)$300 million in senior secured convertible notes (“Senior Notes”), advancing its strategic initiative to build a blockchain-based treasury and launch a tokenization platform for sustainability-linked infrastructure. The securities purchase agreement provides for the issuance of up to (US)$300 million in Senior Notes with Helena Partners, which issuances will be funded in multiple tranches. An initial funding of (US)$10 million was completed on July 18, 2025. Key Highlights: Under the agreement, DevvStream will allocate 75% of the net proceeds (70% of the initial tranche) toward the purchase of liquid digital assets that offer 24/7 liquidity, serve as non-correlated stores of value, and may be used as collateral
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom