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

(c) 2018 Business Wire, Inc., All rights reserved.

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

European Parliament - E-Cig: a Potential Step Forward for European Health According to LIAF – Lega Italiana Anti Fumo19.3.2018 10:00Pressemelding

The following is a statement from LIAF – Lega Italiana Anti Fumo: Use of e-cigarettes in the world is growing continuously. However, Europe is falling behind. It is essential that Europe exploits the potential of this technology to reduce the impact of smoking on European Public Health. For this reason, the Italian Anti-Smoking League (Lega Italiana Anti Fumo - LIAF), hosted by MEP Giovanni La Via (former Chair of the ENVI Committee), is bringing experts and policymakers to the European Parliament to discuss the benefits of electronic cigarettes. The event takes place on 20 March 2018 at 12.30 p.m. and will allow experts to exchange views on the potential of e-cigarettes to help reshape European health. Though this is a very important public health issue, the discussion has been absent from the European agenda. With cigarettes killing more than half a million smokers a month globally and almost 6 million Europeans now using e-cigarettes to move away from smoking, providing scientific e

USP Capital: Ex- Samsung and Google Managers Teamed up to Launch a New Virtual Economy Through an AR/VR Assets Blockchain Combined with Games Based on Google Maps API19.3.2018 09:45Pressemelding

The interest in AR/VR Technologies seems to be on the rise with the recent announcement that Google will open their MAPS API to developers to create the future of AR gaming and build upon the success of Pokemon Go. This type of new technologies is expected to create a new type of virtual economy, with new types of goods and services created and traded by players. At the forefront of this advance is Mossland, an AR game with a blockchain core created by a team of Ex-Samsung and Google managers and AR experts, which raised more than 5 million in only 38 minutes in January. Advisors to the project also include Jason Han, the CEO of Kakao Blockchain and Jeffrey Lim, previous Head of Google Campus Seoul. Mossland combines the mechanics of Pokemon Go and Monopoly, allowing players buy and trade real-world virtual properties such as the Eiffel Tower or the Empire State Building. Transactions will be secure and transparent thanks to the use of the Moss Coin (MOC), a blockchain based cryptocurr

Sabio Raises the Game for Customer Experience With Bright UK Acquisition19.3.2018 09:15Pressemelding

Customer experience solutions specialist Sabio has announced that it has acquired Bright UK Limited, the customer service data and analysis experts. Bright offers bespoke consultancy and SaaS data solutions that deliver insights to contact centres, allowing them to operate more effectively. It does this through a unique combination of real time customer feedback analysis, comparative benchmarking and employee surveys. The acquisition follows Lyceum Capital’s strategic investment in Sabio, and is part of an ongoing acquisition plan to broaden the company’s solution portfolio. Adding Bright complements Sabio’s March 2017 acquisition of Rapport, the SaaS software and analysis services vendor, and significantly strengthens Sabio’s insight services portfolio providing an unrivalled holistic approach to analyse customer and employee satisfaction, offering clients both a technological and a professional serviced approach to improving the service experience. “Sabio is focused on supporting our

JustPremium Launches Rich Video Product Suite19.3.2018 08:00Pressemelding

Programmatic rich media and video ad marketplace, JustPremium, has today announced the launch of a new product suite, Rich Video. The new offering allows clients to build multiple rich video ad units with a single click using the advertisers existing assets. Using Rich Video allows advertisers to create an engaging advert, leading to higher engagement and interaction rates. Ultimately these formats help create a better user experience and a higher return on investment. JustPremium launches this product at a time when quality video inventory has never been more in demand, and brand-safe video inventory that advertisers require has never been in shorter supply. Rich Video allows publishers to build multiple creative ad units in minutes, enabling them to test different options and optimise their message to give the best performance. By utilising the assets that have already been created for Facebook, Adwords and YouTube, this process allows advertisers to supercharge their existing conten

GovSat-1 Satellite Goes Operational19.3.2018 07:40Pressemelding

GovSat-1 enters operational service today, to provide secure communications to governmental and institutional users. GovSat-1 is the first satellite of GovSat, a public private partnership between the Government of Luxembourg and the world-leading satellite operator SES. The satellite was launched into space on 31 January on board a flight-proven SpaceX Falcon 9 rocket from Cape Canaveral Air Force Station, and has since undergone extensive testing. This press release features multimedia. View the full release here: GovSat-1 launch. (Photo: SpaceX) The multi-mission satellite is operated by GovSat from the Secure Mission Operations Centre in Luxembourg. The highly flexible and resilient GovSat-1 payload uses dedicated frequencies in X-band and military Ka-band. It enables an array of applications such as connectivity for theatres of operation, interconnection of institutional or defence sites, border control, Intelligence, Surve

Digi Communications N.V.: Announcement on the Convocation Date for the Company’s GSM Approving the 2017 Annual Report19.3.2018 07:34Pressemelding

The Company would like to inform its investors and the market that the Board of Directors anticipates that on Wednesday, 21 March 2018, it will convene the general shareholders meeting (the “GSM”) called to approve, among others, the 2017 Annual Report. On the same date, the Company will make public, among others, its 2017 Annual Report and the auditor’s report. In accordance with the provisions of the articles of association of the Company, the GSM is scheduled to take place on 2 May 2018. Therefore, we would like to inform you with respect to the update to the Company’s Financial Reporting Calendar for 2018, which is available on Digi’s website. For details, please access the Digi’s website: (Investor Relations Section). About Digi Communications NV Digi is the parent holding company of RCS & RDS, a leading provider of pay TV and telecommunications services in Romania and Hungary. In addition, RCS & RDS provides mobile services as an MVNO to the large Roman