(Reuters) -French heart prosthesis company Carmat has filed for insolvency and requested to be placed in receivership after failing to secure emergency funding, it said on Monday.
Trading in Carmat shares have been suspended at the company’s request, it said, pending a decision by the the Versailles Economic Affairs Court.
Carmat, which had warned earlier this month that it could run out of cash by end-June without fresh financing, said it had not managed to raise the 3.5 million euros ($4.1 million) it needed and had submitted the filing to the court.
Broker Portzamparc said in a note that the two most plausible outcomes for the group are a takeover by an industrial player in the sector or backing from a strong financial…