Pierre Bastid single family office saves heart maker Carmat

Pierre Bastid single family office saves heart maker Carmat

We created this article as part of our research process for our European single family office database. Here, we are highlighting the investment of the Pierre Bastid single family office in struggling heart maker Carmat.

Carmat, a French manufacturer of artificial hearts, has received a crucial €7 million investment to alleviate an immediate financial crisis, amongst others from the Bastid single family office. However, this development raises concerns about future backing from co-founder Airbus, as the aerospace giant chose not to participate in this funding round. Despite these challenges, Carmat remains optimistic about its product’s safety and potential. The company’s shares experienced a brief surge but continue to struggle compared to their value before the September cash crisis announcement. Notably, Airbus’s stake in Carmat has decreased, positioning Lohas, the family office of French investor Pierre Bastid, as the largest shareholder. Carmat anticipates needing an additional €50 million for operations until October 2024, plus €14.7 million to service a European Investment Bank loan.

Article Source: BusinessLive
Picture source: Jesse Orico

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