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Occlutech

Health Tech & Medtech · Helsingborgs kommun, Sweden · Founded 2003

Occlutech operates as a specialized provider of minimally invasive cardiac devices, focusing on solutions for structural heart disease. The company was founded in 2003 by Tor Peters, a Swedish national with over three decades of experience in senior roles at Medtech companies like Boston Scientific and Novo Nordisk. His journey includes co-founding JOMED, an interventional cardiology company that had a significant IPO in 2000, bringing extensive industry and entrepreneurial experience to Occlutech. The company's inception was driven by a collaboration with Prof. Hans Figulla at Jena University Hospital, Germany, to develop a new generation of occluders that would reduce the amount of implanted material and offer greater flexibility in treating septal defects. This led to the launch of the Occlutech Figulla range of PFO and ASD occluders in 2007. The company's business model centers on the development, manufacturing, and commercialization of cardiac implants and delivery systems. Occlutech sells its products to hospitals and clinics in approximately 85 countries, where physicians use them in implantation procedures. The product portfolio addresses congenital heart defects, stroke prevention, and heart failure. Key products include the Atrial Septal Defect (ASD) Occluder, Patent Foramen Ovale (PFO) Occluder, and the Atrial Flow Regulator (AFR) for heart failure patients. These devices, such as the self-expanding nitinol ASD occluder, are designed for transcatheter closure, offering a less invasive alternative to open-heart surgery. Revenue is generated through the sale of these devices and their associated accessories. A significant milestone for Occlutech was gaining FDA approval for its ASD Occluder and the Pistol Pusher delivery system in early 2024. This approval opened up the commercially significant U.S. market, which represents a substantial opportunity for growth in ASD closure procedures. For its U.S. commercialization, Occlutech has entered into an exclusive partnership with B. Braun Interventional Systems Inc. The company, registered in Switzerland, maintains a global footprint with R&D and manufacturing facilities in Germany and Türkiye, and a global finance and distribution hub in Sweden. While an attempted IPO on the Nasdaq First North Premier Growth Market in Stockholm was announced in September 2021, it was later withdrawn despite being oversubscribed, due to weak sentiment in the MedTech sector and concerns about ensuring satisfactory post-IPO trading. Keywords: structural heart disease, minimally invasive cardiac devices, cardiac implants, septal occluders, Atrial Septal Defect (ASD), Patent Foramen Ovale (PFO), heart failure treatment, transcatheter closure, Atrial Flow Regulator (AFR), medical device manufacturing, MedTech, cardiology, interventional cardiology, congenital heart defects, stroke prevention, nitinol devices, occluder technology, Pistol Pusher delivery system, cardiovascular devices, Tor Peters, B. Braun Interventional Systems, FDA approval medical device