Edwards Lifesciences Corporation Completes Acquisition Of CardiAQ

Published on:
IRVINE, Calif., Aug. 26, 2015 /PRNewswire/ -- Edwards Lifesciences Corporation (NYSE: EW), the global leader in the science of heart valves and hemodynamic monitoring, today announced that it has closed its acquisition of CardiAQ Valve Technologies, Inc., a privately held company and developer of a transcatheter mitral valve replacement system.  Edwards announced last month that it had signed an agreement to acquire CardiAQ. Under the terms of the merger agreement, Edwards paid $350 million cash for CardiAQ at closing, with an additional $50 million to be paid upon achievement of a European regulatory milestone. Edwards' financial guidance provided on its second quarter earnings call incorporated the expected financial impact of the transaction in 2015. "We look forward to the CardiAQ team joining Edwards.  We believe the combined knowledge and efforts of the talented CardiAQ and FORTIS transcatheter mitral valve system teams will help us advance a therapy that offers a meaningful solution for patients," said Michael A. Mussallem, Edwards' chairman and CEO.   The CardiAQ and FORTIS valve systems are not approved for sale in any country. About Edwards LifesciencesEdwards Lifesciences is the global leader in the science of heart valves and hemodynamic monitoring. Driven by a passion to help patients, the company partners with clinicians to develop innovative technologies in the areas of structural heart disease and critical care monitoring, enabling them to save and enhance lives. Additional company information can be found at www.edwards.com.   

Related Content

Q&A: MedAxiom CEO explores key trends in cardiologist, cardiovascular surgeon compensation
Positron partners with Upbeat Cardiology Solutions to improve cardiac PET/CT access
Abbott opens CGM sensor manufacturing facility in Ireland as part of $465M investment
Eko Health’s AI platform for digital stethoscopes granted new CPT code
Cardiologist demand is on the rise—can hospitals keep up?
Cardiologist receives 35 months in prison for health insurance fraud

Around the web

Health Imaging
Use of AI opportunistic screening in CT for cardiovascular disease

Ron Blankstein, MD, professor of radiology, Harvard Medical School, explains the use of artificial intelligence to detect heart disease in non-cardiac CT exams.

Health Imaging
New imaging protocols proposed to curb rise of cardiovascular infections

Eleven medical societies have signed on to a consensus statement aimed at standardizing imaging for suspected cardiovascular infections.

Radiology Business
What does radiology have to do with climate change?

Kate Hanneman, MD, explains why many vendors and hospitals want to lower radiology's impact on the environment. "Taking steps to reduce the carbon footprint in healthcare isn’t just an opportunity," she said. "It’s also a responsibility."