• Mon, Jan. 23, 4:22 PM
    Mon, Jan. 23, 4:22 PM
  • Nov. 28, 2016, 6:53 AM
    • Edwards Lifesciences (NYSE:EW) agrees to acquire privately held Valtech Cardio. The Or Yehuda, Israel-based firm markets a portfolio of solutions for mitral and tricuspid valve repair and replacement. Its flagship product is the Cardioband System which combines a reconstruction implant with a transcatheter approach. It was CE Mark'd in 2015.
    • Under the terms of the agreement, Edwards will pay $340M in cash and stock at closing and up to $350M in milestones over the next 10 years. In Q1, Valtech intends to spin off its early-stage transseptal mitral valve technology program, which Edwards retains an option to acquire.
    • Separately, Edwards' board authorizes a new share buyback program to repurchase up to an additional $1B of the company's common stock. It has $277M remaining of its current $750M repurchase plan. The new authorization will offset the dilution from the Valtech transaction.
    • Management will discuss the Valtech deal and release 2017 guidance at its annual investor conference on December 8.
    Nov. 28, 2016, 6:53 AM | 1 Comment
  • Jul. 10, 2015, 5:41 PM
    • Edwards Lifesciences (NYSE:EW) agrees to acquire privately-held CardiAQ Valve Technologies for as much as $400M, including $350M in cash at closing and the remainder payable after achieving a European regulatory milestone.
    • CardiAQ is a developer of a transcatheter mitral valve replacement system, but EW says its valve system is not yet approved for sale in any country.
    • EW says it expects the acquisition will be slightly dilutive to 2015 EPS, and will provide further guidance when Q2 earnings are released July 28.
    Jul. 10, 2015, 5:41 PM | 1 Comment