Key Highlights
- Edwards Lifesciences sells Critical Care group to BD for $4.2 billion.
- Transaction enhances Edwards’ focus on structural heart disease.
- Proceeds to fund strategic growth investments in new technologies.
- Critical Care to operate under BD in Irvine, CA, led by Katie Szyman.
- Expected transaction close by end of 2024, pending approvals.
Source: Business Wire
Notable Quote
- “Edwards’ underlying rationale for separating Critical Care remains the same: we are laser focused on pursuing a strategy centered on structural heart disease. Our goal is to serve large unmet patient needs with our differentiated innovations while extending our global leadership, delivering sustainable growth and increasing shareholder value. Critical Care has made significant contributions to our company and has a long history of pioneering innovation. We believe this transaction will strengthen Edwards, Critical Care and BD, paving the way for both companies to deliver even greater value to patients,” — Bernard Zovighian, CEO at Edwards
SoHC's Take
The sale of Edwards Lifesciences’ Critical Care product group to BD is a strategic move that allows Edwards to refocus its efforts on structural heart disease innovations. This transaction not only provides significant financial flexibility but also positions Edwards to enhance its portfolio with cutting-edge technologies and expand its global leadership in the field. The transition of Critical Care to BD, led by Katie Szyman, ensures continuity and promises to drive further innovation in critical care under BD’s umbrella. Investors and stakeholders can expect this move to reinforce Edwards’ commitment to sustainable growth and increased shareholder value.
