Corcym (www.corcym.com) is the Newco which, in June 2021, has incorporated the cardiac valve division of Livanova. The deal has been originated by Medeor who, together with other private investors, owns a minority stake in Corcym. The majority of equity is owned by Gyrus Capital, a Swiss PE fund.
Corcym is one of the world leaders in surgical, prosthetic heart valve development, manufacturing, and marketing. Its products are approved for sale in all major markets and hold CE and FDA certification. In addition, Corcym products are approved in Japan and China. Corcym offers a comprehensive heart valve and accessories product range (mechanical, tissue, conduits and annuloplasty rings) including a unique suture-less valve (“Perceval”) indicated for complex surgical procedures. Notwithstanding increasing penetration of noninvasive heart valve replacement procedures (TAVI), traditional cardiac surgery remains a key, and still growing (due to aging of population and booming demand in China) part of cardiovascular medicine, due to its long-term favorable patient outcome.
Corcym has two manufacturing sites: Saluggia (NW Italy), where R&D laboratories are also located, and Vancouver (Canada), employing more than 900 people worldwide.