A takeover bid within the context of a sales plan has been received by the judiciary administrator
Regulatory News:
CARMAT (FR0010907956, ALCAR), designer and developer of the world's most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the "Company" or "CARMAT"), today provides an update on the ongoing receivership procedure.
Update on the ongoing receivership procedure
On October 15, 2025, CARMAT had announced a new call for public tenders (buyers or investors) initiated as part of the receivership opened on July 1, 2025. The deadline set for submitting bids was November 3, 2025.
By that date, one takeover bid within the context of a sales plan1 (the "Bid"), was received by the judiciary administrator. The Bid was submitted by "CARMAT SAS", a simplified joint stock company2 set-up for the purpose of the potential Bid, share capital of which is currently held by LOHAS S.à.r.l., a company controlled by Mr. Pierre Bastid (the "Buyer"), who is CARMAT's Chairman of the Board and holds about 17% of CARMAT shares.
The Bid, which can still be adjusted until November 20, 2025, should be assessed by the Versailles Economic Court3 (the "Court") at a hearing scheduled on November 25, 2925.
The Company draws attention to the fact that there is no guarantee at this stage that the Bid will be successful (i.e. that the conditions precedent will be met and that the Court will ultimately decide a sales plan based on this Bid). If the Bid is not successful, it is highly probable that CARMAT will be liquidated (under the rules applicable to judicial liquidations) and its operations will stop. In such a case, it is highly probable that the shareholders will lose the total value of their investment, while a major part of CARMAT's creditors will incur a very significant loss of up to the total value of their receivables.
Conversely, if the Bid is ultimately validated by the Court, part or all of CARMAT's operations will continue as part of another legal entity. However, in that case, CARMAT will also be liquidated, and given CARMAT's level of liabilities, it is highly probable that the shareholders will lose the total value of their investment, while a major part of CARMAT's creditors will incur a very significant loss of up to the total value of their receivables.
It is reminded that, should it be liquidated, the Company would request the delisting of its shares from Euronext.
Next steps
Trading of CARMAT shares (ISIN code: FR0010907956, Ticker: ALCAR) remains suspended.
Press releases will be issued regularly as the Company's situation evolves and the proceedings progress.
Until the next hearing scheduled on November 25, 2025, with a view to contain its cash burn, CARMAT will continue to limit its operations to the minimum, focusing in first instance on support to patients currently benefitting from Aeson®.
In any case, the support to these patients is CARMAT's priority, so the Company endeavors to ensure that this continuous support is maintained even if CARMAT is liquidated and its operations cease.
About CARMAT
CARMAT is a French MedTech that designs, manufactures and markets the Aeson artificial heart. The Company's ambition is to make Aeson the first alternative to a heart transplant, and thus provide a therapeutic solution to people suffering from end-stage biventricular heart failure, who are facing a well-known shortfall in available human grafts. The world's first physiological artificial heart that is highly hemocompatible, pulsatile and self-regulated, Aeson could save, every year, the lives of thousands of patients waiting for a heart transplant. The device offers patients quality of life and mobility thanks to its ergonomic and portable external power supply system that is continuously connected to the implanted prosthesis. Aeson is commercially available as a bridge to transplant in the European Union and other countries that recognize CE marking. Aeson is also currently being assessed within the framework of an Early Feasibility Study (EFS) in the United States. Founded in 2008, CARMAT is based in the Paris region, with its head offices located in Vélizy-Villacoublay and its production site in Bois-d'Arcy. The Company can rely on the talent and expertise of a multidisciplinary team of circa 150 highly specialized people. CARMAT is listed on the Euronext Growth market in Paris (Ticker: ALCAR ISIN code: FR0010907956).
For more information, please go to www.carmatsa.com and follow us on LinkedIn.
Name: CARMAT
ISIN code: FR0010907956
Ticker: ALCAR
Disclaimer
This press release and the information it contains do not constitute an offer to sell or subscribe, nor a solicitation of an offer to buy or subscribe, for CARMAT shares in any country.
This press release may contain forward-looking statements regarding the Company's objectives and outlook. These forward-looking statements are based on the current estimates and anticipations of the Company's management and are subject to risk factors and uncertainties, including those described in its Universal Registration Document filed with the French Financial Markets Authority (Autorité des marchés financiers) (the "AMF") under number D.25-0345 (the "2024 Universal Registration Document"), available free of charge on the websites of CARMAT (www.carmatsa.com/en/) and the AMF (www.amf-france.org).
Readers' attention is particularly drawn to the fact that the Company is currently placed in receivership (opened on July 1, 2025) and that given the evolution of this procedure, the Company is subject to a very high risk of liquidation and of termination of its operations, including in short-term. The Company is also exposed to other risks and uncertainties, such as its ability to implement its strategy, the pace of development of its production and sales, the progress and results of ongoing or planned clinical trials, technological developments, the competitive landscape, regulatory changes, industrial risks, and all risks related to the management of the Company's growth. Forward-looking statements mentioned in this press release may not be achieved due to these factors or other unknown risks and uncertainties, or risks that the Company does not currently consider to be material or specific.
Aeson® is an active implantable medical device commercially available in the European Union and other countries recognising the CE mark. The Aeson® total artificial heart is intended to replace the ventricles of the native heart and is indicated as a bridge to transplant in patients with end-stage biventricular heart failure (Intermacs classes 1-4) who cannot benefit from maximal medical therapy or a left ventricular assist device (LVAD) and who are likely to benefit from a heart transplant within 180 days of implantation. The decision to implant and the surgical procedure must be carried out by healthcare professionals trained by the manufacturer. The documentation (clinician's manual, patient's manual and alarm booklet) must be read carefully to learn about the characteristics of Aeson® and the information required for patient selection and proper use (contraindications, precautions, side effects) of Aeson®. In the United States, Aeson® is currently only available as part of a feasibility clinical trial approved by the Food Drug Administration (FDA).
1 Offre de reprise en plan de cession ».
2 SAS: Société par Actions Simplifiée
3 Tribunal des Activités Economiques de Versailles.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251104926251/en/
Contacts:
CARMAT
Stéphane Piat
Chief Executive Officer
Pascale d'Arbonneau
Deputy Chief Executive Officer Chief Financial Officer
Tel.: +33 1 39 45 64 50
contact@carmatsas.com
NewCap
Press Relations
Nicolas Merigeau
Arthur Rouillé
Tel.: +33 1 44 71 94 98
carmat@newcap.eu
NewCap
Financial Communication
& Investor Relations
Dusan Oresansky
Jérémy Digel
Tel.: +33 1 44 71 94 92
carmat@newcap.eu
