Carmat (PAR: ALCAR)

Currency in EUR

Last close As at 26/05/2023


−0.08 (−0.92%)

Market capitalisation


Carmat is developing a biocompatible, artificial heart to satisfy the lack of donor hearts available for terminal heart failure patients. The development process combines the expertise of a wide range of technical and medical experts.

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Carmat: Edison Open House Healthcare 2022


Carmat — Implantation momentum


Carmat – Edison Open House interview

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (2.4) (21.8) (17.4)
Relative (7.4) (25.3) (27.4)
52 week high/low €14.8/€8.0


Carmat recently announced that it has implanted nine of its physiologic heart replacement therapies (PHRT) since July, six of which were commercial implants (under the brand name Aeson in the EU) while three were part of the early feasibility study (EFS) in the United States. These nine implants are associated with approximately €2m in product revenue, which will be booked in H221. Importantly, due to the PHRT’s profile, which features autoregulation, pulsatility and hemocompatibility, additional centres are expected to become commercially active in the coming months, which we believe should help drive revenue growth.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2020A 0.0 N/A (38.7) (285.32) N/A N/A
2021A 2.2 N/A (61.9) (402.00) N/A N/A
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A

Further insights


Total Artificial Hearts

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Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

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