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 Lifesciences
Edwards 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.
This news release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These
forward-looking statements include, but are not limited to,
statements by Michael Mussallem,
expectations regarding the impact of the transaction on the
company's financial results, and anticipated outcomes of the
clinical development of mitral valve replacement
technologies. Forward-looking statements are based on
estimates and assumptions made by management of the company and are
believed to be reasonable, though they are inherently uncertain and
difficult to predict. Our forward-looking statements speak
only as of the date on which they are made and we do not undertake
any obligation to update any forward-looking statement to reflect
events or circumstances after the date of the statement.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied by the forward-looking statements based on a
number of factors including but not limited to unexpected costs or
financial impacts of the transaction, unanticipated outcomes after
more expanded clinical experience with the devices, unexpected
changes or delays related to product supply, potentials for
unexpected regulatory or quality developments, competitive
dynamics, global economic conditions and customer acceptance.
These factors are detailed in the company's filings with the
Securities and Exchange Commission including its Annual Report on
Form 10-K for the year ended December 31,
2014.
Edwards, Edwards Lifesciences, the stylized E logo, Edwards
FORTIS and FORTIS are trademarks of Edwards Lifesciences
Corporation. All other trademarks are the property of their
respective owners.
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SOURCE Edwards Lifesciences Corporation