USA based Edwards Lifesciences acquires Israel based Valtech Cardio, a company that develops Cardioband System for transcatheter repair of the mitral and tricuspid valves, for $340Mn.
The deal has some pre-specified milestones which if met over 10 year time will help Valtech Cardio gain further $350MN. So, the deal could go as high as $690Mn in total.
Valtech Cardio develops and manufactures cardiovascular devices for mitral regurgitation and tricuspid valve repair and replacement. The company specializes in transcatheter heart valve technologies for patients suffering from valvular insufficiency. It offers Cardioband System that offers reconstruction of the mitral valve by direct annuloplasty delivered transfemorally without need for open-heart surgery.
About Edwards Lifesciences
Edwards Lifesciences is an American medical equipment company specializing in artificial heart valves and hemodynamic monitoring. It is mostly known for a transcatheter aortic heart valve made of bovine tissue within a collapsible stainless-steel stent, deployed via catheter.
Edwards Lifesciences was founded in 1958, when Miles “Lowell” Edwards set out to build the first artificial heart. Today company is headquartered in Irvine, California, United States.