Picard Medical and its Subsidiary, SynCardia Systems, a Pioneer in Total Artificial Heart Technology, to Become a Publicly Traded Company via Merger with Altitude Acquisition Corp.
PALO ALTO, Calif. and TUCSON, Ariz. and ATLANTA, April 24, 2023 (GLOBE NEWSWIRE) -- Picard Medical, Inc. (“Picard Medical”), the parent company of SynCardia Systems, LLC (“SynCardia”), a global leader in mechanical heart replacement technology, today announced that it has entered into a definitive business combination agreement with Altitude Acquisition Corp. (“Altitude”) (NASDAQ: ALTU), a publicly traded special purpose acquisition company, that will result in Picard Medical becoming a publicly listed company.
- Upon closing of the transaction, Altitude will be renamed Picard Medical Holdings, Inc. and is expected to remain listed on Nasdaq.
- SynCardia is working with regulatory authorities to have its CE mark reinstated under EU MDR for most European Union countries.
- Cardiovascular disease is the leading cause of death globally and has resulted in 64.3 million heart failure patients worldwide.
- The only definitive therapy for end-stage heart failure is heart transplantation, and it is estimated that 300,000 patients currently require this treatment option.