MD+DI Online is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Edwards Lifesciences to Sell LifeStent to Bard

Edwards Lifesciences Corp. (Irvine, CA) is selling its LifeStent peripheral vascular product line to C.R. Bard Inc. (Murray Hill, NJ) for up to $140 million. According to Edwards chairman and chief executive Michael Mussallem, the LifeStent product has resulted in "operating losses" for the company. Edwards will get about $75 million in cash at the closing of the deal, which is expected in January.

The company will also receive $65 million in cash when certain milestones are reached, like FDA approval of additional product indications. Mussallem said that the deal will affect about 150 employees and will help Edwards increase its investments in the heart valve and critical care business.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish