Healthcare Industry News: Edwards Lifesciences
News Release - December 21, 2007
Edwards Lifesciences Completes Acquisition of CardioVations Product LineTransaction Expands Edwards' Portfolio of Minimally Invasive Surgical Offerings
IRVINE, Calif., Dec. 21 (HSMN NewsFeed) -- Edwards Lifesciences Corporation (NYSE: EW ), the world leader in the science of heart valves, announced today that it has completed its acquisition of certain assets of the CardioVations Division of Ethicon, Inc. CardioVations' product line includes the PORT-ACCESS products for performing minimally invasive cardiac valve procedures. The CardioVations product line is expected to generate sales of more than $20 million in 2008. It is not expected to have an impact on earnings in 2008 and will be accretive thereafter.
"We are pleased to add CardioVations' unique products to Edwards' portfolio of innovative aortic and mitral valve replacement technologies," said Anita B. Bessler, Edwards' corporate vice president, heart valve and cardiac surgery systems. "This complementary product line will give our surgical partners new avenues to optimize patient outcomes."
About Edwards Lifesciences
Edwards Lifesciences, a leader in advanced cardiovascular disease treatments, is the number-one heart valve company in the world and the global leader in acute hemodynamic monitoring. Headquartered in Irvine, Calif., Edwards focuses on specific cardiovascular disease states including heart valve disease, peripheral vascular disease and critical care technologies. The company's global brands, which are sold in approximately 100 countries, include Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, PERIMOUNT Magna and Swan-Ganz. Additional company information can be found at http://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, the ability of this transaction to generate expected sales and impact earnings in 2008 and beyond. 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.
Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Factors that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements 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, 2006.
Edwards is a trademark of Edwards Lifesciences Corporation. Edwards Lifesciences, the stylized E logo, Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, PERIMOUNT Magna and Swan-Ganz are trademarks of Edwards Lifesciences Corporation and are registered in the United States Patent and Trademark Office.
PORT ACCESS* is a trademark of Edwards Lifesciences Corporation -- along with other brands in PORT ACCESS portfolio.
Source: Edwards Lifesciences
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