Apica Cardiovascular

Apica Cardiovascular was a medical device company that originated from technological advancements at Georgia Tech and Emory University. Founded in 2009 by James Greene, Dr. Vinod Thourani, Jorge Jimenez, and Professor Ajit Yoganathan, the company was established to commercialize a novel system for simplifying and standardizing cardiac surgery. The founding team combined expertise in cardiovascular technology from Georgia Tech with the clinical experience of surgeons at Emory University. Initially based in Atlanta, the company secured a $5.1 million investment in 2011 and subsequently relocated its headquarters to Galway, Ireland, to capitalize on the robust medical device ecosystem there, while maintaining research and development operations in the U.S.

The company's core business was the development and commercialization of devices for transapical access and closure, a minimally invasive surgical approach to the heart. This market includes procedures like transcatheter aortic valve replacement (TAVR), mitral valve repair (MVR), and the implantation of left ventricular assist devices (LVADs). Apica's primary product was the Access, Stabilization, and Closure (ASC) system, designed to allow surgeons to create a stable, sutureless port on a beating heart. This system facilitates the delivery of therapeutic devices, such as heart valves, without significant blood loss or air exposure. Upon completion of the procedure, the system provides a secure seal with a biocompatible implant, aiming to reduce procedure time, blood loss, and complication rates compared to traditional suture-based methods. The ASC device received CE Mark approval in Europe in 2013.

Apica Cardiovascular's journey culminated in a significant milestone in July 2014, when it was acquired by Thoratec Corporation, a leader in mechanical circulatory support. The acquisition was structured with an upfront payment of $35 million and up to an additional $40 million contingent on future clinical and sales milestones. The deal marked a successful exit for the founders and investors, including Seroba Kernel Life Sciences and Enterprise Ireland, and validated the strategy of developing U.S.-based technology within Ireland's supportive medtech environment. Following the acquisition, Thoratec assumed control of the ongoing development and commercialization of Apica's device platforms.

Keywords: transapical access, cardiac surgery device, access and closure system, heart valve replacement, aortic valve stenosis, TAVR device, mitral valve repair, LVAD implantation, minimally invasive surgery, beating heart surgery, structural heart disease, surgical implant system, cardiovascular devices, medtech, medical technology, Seroba Kernel, Thoratec, Emory University spin-out, Georgia Tech spin-out, cardiovascular technology, biocompatible implant, sutureless closure, CE Mark approval