Encore Medical, Inc.

Encore Medical, Inc. is a structural heart device company developing, manufacturing, and marketing septal occlusion products for transcatheter closure of cardiac defects like patent foramen ovale (PFO) and atrial septal defects (ASD). Founded in 2017 and spun off from Cardia, Inc. in 2020, the company has CE Mark approval and has sold devices implanted in 35,000 patients outside the US through 11 distributors in Europe, Mexico, and other regions. Revenue grew 21% to $2.59 million in fiscal 2025 from $2.13 million in 2024, with gross profit of $1.04 million (40.1% margin), but net loss was $928,088 amid $1.87 million operating expenses and clinical trial costs. Cash stood at $94,256 with a $1.77 million working capital deficit and $1.57 million debt as of December 31, 2025; all assets are secured by lender Merit Medical. The company has FDA IDE approval for a US PFO trial (13/500 patients enrolled, ~2 years to complete) targeting $1.5 billion annual US stroke prevention market at $11,000 ASP. It is offering 3 million shares of common stock at $5.00 per share for $15 million gross ($12.7 million net), plus 450,000 overallotment option, to fund $7.2 million stroke trials, $2 million migraine studies, $1.75 million debt repayment, sales/marketing, and working capital. Listing on NYSE American as 'EMI'. Going public to finance US FDA PMA for commercialization, leveraging 20+ years platform with 35,000 implants.

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