Carmat (ALCAR)

Business description

Carmat is developing a biocompatible, artificial heart to satisfy the lack of donor hearts available for terminal heart failure patients. The development process combines the expertise of a wide range of technical and medical experts.

Stock data

Market cap.€145.9m
Last close€24.61
High / Low (52 weeks)€42.2 / €24.0
Stock market listingAL
Forecast net cash (€m)4.8
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(7.5)(20.1)(31.2)
Relative *(6.6)(17.1)(41.1)

* % Relative to local index

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Company news

Artificial heart patient dies

Tue, 04 Mar 2014 13:26:48 GMT

What Might Cause a Gas Pedal to Become Stuck?

Thu, 28 Jan 2010 22:13:40 GMT

Bionics: Technologies and Global Markets Report 2017 - Examine the $6.4 ...

Wed, 15 Mar 2017 09:45:00 GMT

Carmat halts all transplants of artificial hearts

Mon, 17 Mar 2014 11:02:02 GMT

Cardiovascular Implants Market growth at CAGR of 4.5%, 2016-2025: Device ...

Thu, 19 Jan 2017 14:15:00 GMT

Investment summary

Carmat resumed the EU pivotal trial of its artificial heart after addressing regulator concerns. We anticipate that the study could be completed in mid-2019, leading to a potential EU launch in 2020. The Carmat device could potentially fill a significant need among those waiting for human transplants and/or with terminal heart failure (HF) or acute myocardial infarction (MI). Our valuation is €627m, down from €747m previously.

Last updated on 31/07/2017

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 (19.4) (20.6) (381.32) N/A N/A
2016A 0.3 (24.1) (25.7) (379.73) N/A N/A
2017E 0.0 (22.0) (22.1) (367.12) N/A N/A
2018E 0.0 (24.7) (26.3) (435.57) N/A N/A

Last updated on 31/07/2017

Latest video

Executive Interview - Carmat

Industry outlook

The Carmat artificial heart is being developed as a permanent replacement or destination therapy (DT) for chronic heart failure or acute myocardial infarction patients, who do not have access to a human donor heart. Despite the high worldwide prevalence of heart failure (c 100,000 patients), the shortfall in donor hearts is such that only about 3,800 human heart transplants were performed in Europe and the US in 2013.

Last updated on 01/06/2017

Key management

Stéphane Piat, CEO
Piet Jansen, MD
Benoit De la Motte, CFO
Jean-Claude Cadudal, President
Patrick Coulombier, COO
Professor Alain Carpentier, CSO

Company address

36, avenue de l’Europe
CS 40533 - Immeuble l’Etendard
78941 Vélizy Villacoublay CEDEX
78941
France
+33 (0)1 39 45 64 50
View website