Picard Medical Secures $50 Million Private Placement to Support Artificial Heart Operations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 24 2025
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Source: Globenewswire
- Financing Agreement: Picard Medical has entered into a definitive agreement with WestPark Capital to raise up to $50 million through a private placement of senior secured notes, aimed at expanding and supporting its artificial heart operations.
- Initial Financing Arrangement: The company expects to issue $15 million in notes at closing, with the option to fund an additional $35 million based on certain conditions, enhancing its financial flexibility.
- Clear Use of Proceeds: The net proceeds from this financing will be used for working capital and general corporate purposes, aimed at strengthening the company's competitive position in the heart disease treatment market.
- Market Leadership: Picard Medical's SynCardia system is the only total artificial heart approved by both the FDA and Health Canada, with over 2,100 implants performed across 27 countries, solidifying its leadership in the heart disease treatment market.
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About PMI
Picard Medical, Inc. is a holding company that owns a 100% interest in SynCardia Systems, LLC (SynCardia). SynCardia is a medical technology company that manufactures and sells the only United States Food and Drug Administration (FDA) and Health Canada-approved implantable total artificial heart (SynCardia TAH). The SynCardia TAH is a biventricular replacement device that consists of the SynCardia TAH implant, an external pneumatic driver that delivers precisely calibrated pulses of air to drive the implant, and drivelines that connect the driver to the implant. The SynCardia TAH implant is a system that consists of two independent artificial ventricles which are powered by an external pneumatic driver. Each artificial ventricle is made of a semi-rigid polyurethane housing and a rigid polyurethane base, with a four-layer flexible polyurethane diaphragm separating the blood chamber from the air chamber.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
