Carmat Sold to a Company Controlled by its Chairman Pierre Bastid
The Economic Activities Court of Versailles finalized on December 1, 2025, the transfer plan of Carmat SA in favor of Carmat SAS, a company controlled by Pierre Bastid, chairman of the board and shareholder owning approximately 17% of the company, according to the announcement published this Sunday.
Acquisition Details
The court accepted the acquisition offer presented during the second bidding process initiated by the judicial administrator. The buyer, Carmat SAS, is a simplified joint-stock company created for the needs of the operation and controlled by Lohas S.à r.l, which is owned by Pierre Bastid. The effective date of transfer was set for December 1, 2025, and the activities of the artificial heart designer are now continued by Carmat SAS, which notably provides support for patients currently on Aeson assistance. The offer includes the takeover of 88 employees, assets, and the vast majority of Carmat's contracts, the company indicates.
Financial Strategy and Future Plans
According to the announcement, the offer is based on a total funding of 110 million euros, with 10 million euros available immediately and 20 million euros at the start of 2026. These first two contributions are jointly ensured by Lohas and Sante Holdings, another historic shareholder of Carmat holding about 17% of the shares. The new strategy focuses particularly on continuing access to the North American market, initiating a clinical trial aimed at obtaining the destination therapy indication in Europe within approximately 2 to 3 years, and in the short term, a more concentrated commercial deployment. The operation also includes a significant reduction in cash consumption, the group specifies.
Implications of the Takeover
The company draws attention to the fact that the takeover will result in the judicial liquidation of Carmat SA. Given the level of liabilities of the company and the terms of the offer, it is highly likely that Carmat's shareholders will suffer a total loss of their investment, while a large portion of its creditors will suffer a very significant loss, potentially covering the entirety of their claims, the announcement indicates. The judicial liquidation of Carmat will lead to the delisting of its shares currently traded on Euronext Growth Paris. The trading of Carmat's shares remains suspended, and it is highly probable that trading will not resume before the upcoming delisting of the shares on Euronext Growth Paris, according to the company.
