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§ Private Profile · Paris, France
Tricares develops catheter-based valve replacement systems for medical applications.
TRiCares GmbH develops the Topaz Transcatheter Tricuspid Valve Replacement (TTVR) System, an advanced medical device for severe tricuspid regurgitation. This innovative, catheter-based solution replaces the diseased tricuspid valve, avoiding open-heart surgery. Its unique two-stent prosthesis is engineered for precise anatomical anchoring and robust functionality, primarily delivered via the femoral vein.
The company originated from recognizing a significant unmet medical need for tricuspid regurgitation, a common cardiac condition lacking effective minimally invasive therapies. This insight drove the development of a dedicated, less invasive tricuspid valve solution. While specific founders are not detailed, leadership, including CEO Ahmed Elmouelhi, guides its mission to address this critical clinical imperative.
TRiCares serves patients with severe tricuspid regurgitation, offering physicians a transformative non-surgical treatment. Its vision is to establish Topaz as the preferred standard for TR therapy, delivering superior safety and efficacy. The company aims to continually advance catheter-based heart valve replacement, improving outcomes for complex cardiac challenges.
Tricares has raised $153.0M across 4 funding rounds.
Tricares has raised $153.0M in total across 4 funding rounds.
TRiCares is a medical device company developing Topaz, the first minimally invasive transfemoral tricuspid valve replacement system for treating severe tricuspid regurgitation (TR), a condition affecting over 1.6 million patients in the US and 3 million in Europe with limited treatment options.[1][2][3] Topaz serves high-risk patients unsuitable for open-heart surgery, including those with heart failure, by delivering a dual-stent valve prosthesis via catheter to replace the diseased tricuspid valve, eliminating TR and improving outcomes.[1][2][4][5] The company demonstrates strong growth momentum, marked by its first-in-human implants in 2021, a $50M Series D financing in 2024 from a strategic investor to fund US Early Feasibility Study completion, EU pivotal trial initiation, and next-generation advancements, alongside offices in France, Germany, the US, and Brazil.[2][3][4][5]
Founded in 2013 and headquartered in Paris, France, with operations in Munich, Germany, TRiCares emerged to address the unmet need in tricuspid heart valve disease treatment, where no viable minimally invasive options existed for most patients despite advances in aortic and mitral valves.[1][2] Helmut Straubinger, the initial CEO with a proven track record—including launching Europe's first transcatheter aortic valve system at JenaValve in 2012—led the early vision of innovative transcatheter solutions.[1] The idea built on Straubinger's expertise in medical devices, culminating in pivotal early traction with a Horizon 2020 SME Phase 2 grant and the world's first Topaz implants in June 2021 at University Hospital Henri Mondor in France, treating a high-risk 70-year-old patient unresponsive to medical therapy.[1][5] Leadership transitioned to Ahmed Elmouelhi as President and CEO, bringing 20+ years from AtriCure, Medtronic, and Abbott, supported by experts like Esther Gerteis (VP Medical & Regulatory) and Michael Litzenburger (VP R&D).[3]
TRiCares rides the wave of structural heart innovation, extending transcatheter therapies from aortic (TAVR) and mitral valves to the underserved tricuspid segment, where tens of millions suffer globally and minimally invasive demand surges amid aging populations.[2][3] Timing aligns with maturing catheter tech and clinical validation—post-2021 first implants and 2024 funding—capitalizing on market forces like high TR prevalence (300,000+ annual EU diagnoses), regulatory momentum (Horizon 2020 grant), and venture support from life sciences VCs.[1][4] It influences the ecosystem by validating TTVR feasibility, potentially standardizing TR care, attracting talent/investment to right-heart devices, and enabling broader adoption for inoperable patients.[1][2][5]
TRiCares is poised to disrupt TR treatment with Topaz's US Early Feasibility Study readout, EU pivotal trial launch, and expanded valve/delivery iterations, targeting regulatory approvals and commercialization amid a booming structural heart market.[4] Trends like refined catheter profiles, AI-guided imaging, and value-based care will accelerate its path, while partnerships could scale global reach. Its evolution from 2013 startup to $50M-funded player positions it to redefine high-risk valve replacement, delivering life-changing options where none existed—echoing its founding promise of minimally invasive hope for the underserved.[1][3][4]
Tricares has raised $153.0M in total across 4 funding rounds.
Tricares's investors include European Investment Bank, Frederik Groenewegen, Sofia Ioannidou, Dr. Georg Ried, BioMedPartners, Credit Mutuel Innovation, Go Capital, Karista, Regina Hodits, Andera Partners, Wellington Partners, Thomas Möller.
Tricares has raised $153.0M across 4 funding rounds. Most recently, it raised $23.5M Debt in January 2026.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 23, 2026 | $23.5M Debt Financing | European Investment Bank | — | Announced |
| Jul 25, 2024 | $50M Series D | — | — | Announced |
| Dec 6, 2022 | $53.6M Series C | Frederik Groenewegen | Sofia Ioannidou, DR. Georg Ried, BioMedPartners, Credit Mutuel Innovation, GO Capital, Karista, Regina Hodits | Announced |
| Jun 1, 2018 | $26M Series B | Andera Partners, Wellington Partners, Thomas Möller | Emilie Lidome, Leila Nicolas Guerlain, Catherine Boule | Announced |