Business Wire

Swiss Medtech Symetis Broadens Presence in Structural Heart with Acquisition of U.S. Mitral Valve Device Company Middle Peak Medical


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

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

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

Contact information

Media Contact
Alphonse Daudré-Vignier, + 41 (0) 79 127 63 58
Weber Shandwick Switzerland

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Takeda and TiGenix announce that Cx601 (darvadstrocel) has received a positive CHMP opinion to treat complex perianal fistulas in Crohn’s disease15.12.2017 12:34Pressemelding

Takeda Pharmaceutical Company Limited (TSE: 4502) (“Takeda”) and TiGenix NV (Euronext Brussels and NASDAQ: TIG) (“TiGenix”) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA), in conjunction with the Committee for Advanced Therapies (CAT), has adopted a positive opinion recommending a marketing authorization (MA) for investigational compound Cx601 (darvadstrocel). Cx601 is expected to be indicated for the treatment of complex perianal fistulas in adult patients with non-active/mildly active luminal Crohn’s disease, when fistulas have shown an inadequate response to at least one conventional or biologic therapy.2 This recommendation marks the first allogeneic stem cell therapy to receive a positive CHMP opinion in Europe. This press release features multimedia. View the full release here:

Bitcoin Romania and Twispay Announce Integration Partnership Providing Users with the Ability to Purchase Bitcoin with Bank Cards15.12.2017 12:21Pressemelding

Bitcoin Romania, leading Eastern European Bitcoin exchange & brokerage firm, and Twispay, Swiss-owned European payment processor and FinTech pioneer, today announced the availability of a payment integration that allows a global clientele to acquire Bitcoin and Ethereum cryptocurrencies using Visa and Mastercard bank cards. Unprecedented in Romania, this is one of the first East-Central European integration partnerships that allow consumers to use their cards to purchase cryptocurrency. Until recently, investors could only acquire cryptocurrencies through bank transfers and cash deposits, but the volatility of cryptocurrency markets dictates the need for additional operational flexibility. Investors require faster, safer, more reliable, and more comfortable ways to complete purchases. “One minute can make the difference between a million lost and a million earned. That is pr

Upon Conclusion of the Fourth Annual Forum for Promoting Peace in Muslim Societies, Scholars and Intellectuals Visit the Louvre Abu Dhabi Museum15.12.2017 11:38Pressemelding

A high-level delegation of dignitaries, scholars and intellectuals participating in the fourth annual Forum for Promoting Peace in Muslim Societies, visited the Louvre Abu Dhabi museum. The delegation was headed by H.E Mustafa Ceric, former Grand Mufti of Bosnia; alongside Sheikh Mohammad Mukhtar Ould Imbala, Head of Mauritania’s Fatwa & Grievances Supreme Council; H.E Amar Mirghani Hussein, Sudanese Minister of (religious) Guidance and Endowments; and H.E Salho Jay, Imam of the Juma Masjid in South Africa. The Forum was held in Abu Dhabi from 11-13 December 2017, with the participation of more than 700 scholars, intellectuals and religious dignitaries from around the world. This press release features multimedia. View the full release here: Group Photo of the Scholars and Intellectuals during their visit to the L

Kennedy Wilson Acquires 124-Unit Northbank Apartments in Dublin, Ireland for €45 Million15.12.2017 11:00Pressemelding

Global real estate investment company Kennedy Wilson (NYSE: KW) announces that it has acquired Northbank Apartments, a wholly-owned 124-unit apartment community in Dublin’s North Docks, for €45 million from Jarmar Properties Limited (In Receivership) acting through David Carson of Deloitte as Statutory Receiver, the lender being the National Asset Management Agency (“NAMA”). Situated in Dublin’s North Docks, Northbank is located just 50 meters from Kennedy Wilson’s existing 84-unit Liffey Trust apartments. The two buildings benefit from great transport links as the LUAS Red line is immediately adjacent connecting to Dublin’s city centre and main train stations in five minutes. “The successful acquisition of Northbank in such close proximity to our Liffey Trust asset allows us to leverage our existing presence and implement our value-add asset management strategy, including a

AML BitCoin Enters Phase II of ICO15.12.2017 09:00Pressemelding

NAC Foundation, LLC announces today that the initial coin offering for the AML BitCoin – the world’s only patent-pending compliant digital currency – has been extended for another month to accommodate a torrent of last minute, new coin purchasers and the demands of thousands of current owners of the coin, who have had difficulty navigating the process of establishing the specialized wallet required to hold the innovative digital currency. This second phase of the AML BitCoin initial coin offering will see an increase in the price of the coin, from US $1.00 to US $1.25. The company has already been contacted by prospective purchasers in the slightly higher priced Phase II, and anticipates a further price increase to US $1.50 within a week or two. HitBTC, one of the world’s largest and most active digital currency exchanges, was prepared to list the AML BitCoin for trading on

Joensuu City Challenge – International Competition for Innovative SMEs Opened15.12.2017 08:24Pressemelding

City of Joensuu, Finland, has announced an international competition in which 200,000 euros will be used for innovative pilot projects in the city centre. Joensuu has defined four city platforms on which companies or other interested organizations are invited to present innovative proposals. The winning proposals will be implemented as pilot projects in Joensuu. The deadline for the proposals is 18th March 2018. The implementation phase of the proposals should be carried out by May 2019. Competition information is provided in English, and proposals can be made in English and Finnish. This press release features multimedia. View the full release here: Joensuu City Challenge - International Competition for Innovative SMEs Opened (Photo: Business Wire) The four challenges for which solutions are sought are v

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom