Tucson-based artificial heart maker SynCardia Systems Inc. says it has hired an adviser to help explore a sale of the company or other βstrategic alternativesβ after the company withdrew an initial public offering of stock last month.
In a news release Thursday, the company said its board βhas initiated a process to explore and evaluate all potential strategic alternatives to maximize stakeholder value, including a possible sale of the business.β
The company announced that it has hired investment bank Canaccord Genuity Inc., part of an international firm based in Toronto, to advise its board.
SynCardia said thereβs no assurance the process will result in a transaction, there is no timetable for completion and it wonβt comment further unless a specific transaction is approved by the board.
