Edwards Lifesciences completes $340 million acquisition of Valtech Cardio
Edwards Lifesciences completed its acquisition of Valtech Cardio on Jan. 23 for $340 million in stock and cash.
Edwards said in a news release that it could pay an additional $350 million in prespecified milestone-driven payments during the next 10 years. The companies announced on Nov. 28 that they had agreed to the deal.
Valtech Cardio, which is based in Israel, manufactures the Cardioband System for transcatheter repair of the mitral and tricuspid valves. The system is not yet approved by the FDA, but it has received a CE mark in Europe for the mitral valve application.
Valtech is developing mitral regurgitation treatments to allow patients to avoid open heart surgery, according to its website.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.