Headway Capital Partners’ advised fund HIP IV SCSp is pleased to announce its third investment alongside Gyrus Capital in the transaction described in the following press release.
CORCYM: Today the Global Launch
The new medical device company enters the market today with state-of-the-art surgical solutions to fight structural heart disease
June 01, 2021 05:47 AM EDT. LONDON–(BUSINESS WIRE) — CORCYM the new, independent, medical device company dedicated to providing patients and heart surgeons with the best solutions to fight structural heart disease, announces today the launch of operations globally.
Born from the acquisition of the LivaNova PLC (LivaNova) heart valve business by Gyrus Capital (Gyrus), an investment firm dedicated to investments in the healthcare and sustainability sectors, CORCYM enters the market with a comprehensive portfolio of products to fit the needs of heart surgeons and patients worldwide.
“We are glad to announce the global launch of CORCYM” said Christian Mazzi, CORCYM CEO. “We enter the market today with the strong legacy and heritage of a product portfolio that spans over 50 years. We are committed to becoming the leading company dedicated to heart surgeons and their patients”.
From the Latin COR (heart) and CYM (valve, shortened from Cymbalon) the company name defines its focus: to provide heart surgeons with the best solutions to fight structural heart disease. CORCYM has a presence in over 100 Countries and counts on two main production sites, in Saluggia, Italy, and Burnaby, Canada. With approximately 850 employees globally, the company ensures a strong presence to continuously support patients, healthcare professionals and healthcare systems worldwide.
“Our mission is to help heart surgeons treat patients better today and in the future. Our plan is to leverage our foundations in mechanical valves and build our growth engine with our leading product platforms Perceval® and Memo, while investing in research and development to pursue new products and partnerships. We intend to build CORCYM as a focused, customer- centric and agile company, backed by Gyrus, a strong sector-focused partner that is ready to invest in our future.” said CEO Mazzi.
Clinical evidence will play a vital role in the future of CORCYM heart valve technologies. CORCYM will support a vibrant clinical program in collaboration with leading professionals in heart surgery, to develop clinical studies and investigator-initiated research activities. CORCYM is also committed to continuing and expanding its robust educational and training programs for all its heart valve solutions.
As of today, LivaNova and CORCYM completed the initial closing relating to CORCYM’s acquisition of the LivaNova heart valve business. In the initial closing, CORCYM acquired LivaNova manufacturing facilities in Saluggia and Burnaby (Vancouver) and related assets in other geographies, representing most of the heart valve business. During the course of 2021, the parties expect to complete the transfer of the commercial operations in various local jurisdictions.
CORCYM is a global, independent, medical device company entirely focused on state-of-the- art surgical solutions to fight structural heart disease. CORCYM has a presence in more than 100 countries with approximately 850 employees and ensures strong continuous support to patients, healthcare professionals and healthcare systems worldwide. For more information, please visit www.corcym.com.
About Gyrus Capital
Gyrus Capital is an investment firm focused on transformational investments in the healthcare and sustainability sectors. Based in Geneva, Switzerland, the firm specializes in $50-500m carve outs of businesses with great product and people, which are non-core to their parent corporates. The LivaNova HV carve out follows the acquisition of DuPont Sustainable Solutions (global leader in occupational health and risk and safety consulting) from E.I. DuPont de Nemours in 2019. To learn more, visit www.gyruscapital.com.
LivaNova PLC is a global medical technology and innovation company built on nearly five decades of experience and a relentless commitment to provide hope for patients and their families through innovative medical technologies, delivering life-changing improvements for both the Head and Heart. Headquartered in London, LivaNova employs approximately 3,000 employees and has a presence in more than 100 countries for the benefit of patients, healthcare professionals and healthcare systems worldwide. For more information, please visit www.livanova.com.
About Headway Capital Partners
Headway Capital Partners is a London based private equity firm with advised funds of over €900 million. Headway provides bespoke liquidity and capital solutions to private equity GPs and managers, investing globally in a full range of secondary and co-investment transactions, with a focus on small to mid-size secondary direct, GP-led, and independent sponsor transactions in Europe and North America.