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About Picard Medical
From its filings with the US Securities and Exchange Commission
Picard Medical is based in Tucson, Arizona and is incorporated in Delaware. Its shares trade on NYSE under the ticker PMI. The SEC classifies its business as surgical & medical instruments & apparatus. In the fiscal year to 31 December 2025, it reported revenue of $4.9m and a net loss of $27.0m. At that date it held total assets of $22.5m and shareholders' equity of $3.8m.
PMI functions as a holding company and owns 100% of the membership interests of SynCardia. Business operations are carried out by and through SynCardia, and accordingly most of the information in this Annual Report pertains to SynCardia's business. SynCardia is a medical technology company that manufactures and sells the only U.S. Food and Drug Administration ("FDA") and Health Canada approved Total Artificial Heart ("TAH"), which fully replaces the function of a failing human heart. To date, more than 2,100 SynCardia TAHs have been implanted in patients across 27 countries, and the SynCardia TAH is an established bridge to heart transplantation ("BTT") for patients with biventricular heart failure, also referred to as end-stage heart failure, in the United States and around the globe. SynCardia is also pursuing additional research and advancements in medical technology, including the next-generation, fully implantable and driver-less heart, the Emperor TAH. Both the SynCardia and Emperor TAH are subject to additional development and regulatory review.
The currently approved SynCardia TAH System consists of an implant including left and right artificial ventricles, external pneumatic drivers that power the implant, and drivelines that connect the external driver to the implant. The implantation procedure follows routine surgical techniques used by cardiothoracic surgeons performing heart transplantation. The system provides immediate and complete cardiac output by replacing both ventricles and all four heart valves.
Quoted from its 10-K, filed 30 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Health Care Equipment & Supplies
- Listed since
- 29 Aug 2025
- Employees
- 75
- Head office
- 1992 E. SILVERLAKE RD., TUCSON, AZ, 85713
- Incorporated in
- DE
- Classification
- Surgical & Medical Instruments & Apparatus
- Filer status
- <br>Emerging growth company
Leadership
Pay as last reported
- Mr. Patrick SchnegelsbergChief Executive Officer, Director$400,000
- Mr. Bernard SkaggsChief Financial Officer$200,000
- Mr. Matt SchusterChief Operating Officer$220,000
- Mr. Richard SmithScientific Advisor, SynCardia
- Mr. Richard FangDirector
- Mr. Chris HsiehDirector
- Mr. Sam VanIndependent Director
- Mr. George YeIndependent Director
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Picard Medical Inc is a US-based company operating in Health Care Equipment & Supplies industry.
- The company owns 100% interest in SynCardia Systems, LLC, which manufactures the only FDA and Health Canada-approved implantable total artificial heart.
- SynCardia TAH is a biventricular replacement device with a unique design including two artificial ventricles powered by an external pneumatic driver.
Weaknesses
- The company has a small employee count of 75.
- The company went public on 2025-08-29, indicating a relatively new IPO.
- The company is a holding company with limited operational details beyond SynCardia Systems, LLC.
Opportunities
- The SynCardia TAH is the only FDA and Health Canada-approved implantable total artificial heart, offering a unique market position.
- The company's focus on medical technology could lead to expansion in the health care sector.
- The IPO in 2025 may attract investment for further development and market growth.
Threats
- The company's small size and new IPO may pose financial risks.
- The medical device industry is highly regulated, requiring ongoing compliance with FDA and Health Canada standards.
- Dependence on a single product (SynCardia TAH) could expose the company to market risks.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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