Edwards Lifesciences Acquires Embrella Cardiovascular, Inc. for $43 Million Cash
The purchase price was approximately $43 million cash, and the transaction closed today. Additionally, the company is maintaining its earnings guidance for the year.
"This acquisition is consistent with our dedication to the ongoing exploration and development of novel technologies that have the potential to improve outcomes for patients, and supports our strategy to extend Edwards' global leadership in transcatheter heart valves," said Larry L. Wood, Edwards' corporate vice president, transcatheter valve replacement.
The single-use, disposable Embrella device is placed in the aorta through a sheath inserted in the right brachial or right radial artery. Its porous membrane allows blood flow to the brain while simultaneously deflecting embolic material. The Embrella Embolic Deflector System has been assessed in a limited clinical study in Europe and received CE Mark there in May 2010.
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 that enable 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 regarding financial guidance, transaction close timing and potential benefits of new products. 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 or experience 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 market developments, the timing and scope of regulatory approvals, new product launches and reimbursement decisions, expanded clinical experience, unexpected supply, regulatory or quality matters, or economic developments in key markets. 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, 2010.
Edwards, Edwards Lifesciences and the stylized E logo are trademarks of Edwards Lifesciences Corporation. Contact:
Media Contact: Sarah Huoh 949-250-5070 Investor Contact: David K. Erickson 949-250-6826