SynCardia Files for Chapter 11 Bankruptcy

Artificial heart maker SynCardia Systems filed for Chapter 11 bankruptcy last week after pulling an initial public offering last October.

Syncardia makes an artificial heart system designed to replace the functions of both the left and right ventricles and all 4 heart valves, with FDA clearance as a bridge-to-transplant device for heart failure patients.

The company could be looking for a quick asset sale, as it filed its bankruptcy with a stalking horse bid in hand from its 1st lien agent as the buyer, though it did not name the company in question.

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