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Edwards Lifesciences Corp (NYSE: EW) is a pioneering global entity in the realm of heart valve technology and hemodynamic monitoring. Headquartered in Irvine, California, the company has a robust presence across North America, Europe, Japan, Latin America, and Asia, employing approximately 6,400 individuals worldwide. Edwards Lifesciences specializes in developing medical devices and technologies that address structural heart disease and critical care monitoring, aiming to save and enhance patients' lives.
Originating from a spin-off of Baxter International in 2000, Edwards Lifesciences has cemented its position as a leader in manufacturing and marketing advanced medical equipment. The company's core products include surgical tissue heart valves, transcatheter valve technologies, surgical clips, and catheters. These innovations have positioned Edwards Lifesciences as a key player in the medical field, particularly in the areas of heart valve replacement and repair.
Edwards Lifesciences generates about 55% of its sales from international markets, showcasing its extensive global reach. The company's commitment to innovation is evident in its continuous development of technologies that monitor vital signs in critical care settings, ensuring that patients improve their quality of life.
Recently, Edwards Lifesciences announced a significant transaction with Becton, Dickinson and Company (BD), where BD will acquire Edwards' Critical Care product group for $4.2 billion in cash. This acquisition is expected to unlock new value creation opportunities and enhance BD's portfolio of smart connected care solutions. The Critical Care unit, known for its advanced patient monitoring solutions and AI-driven technologies, will operate as a separate business unit within BD's Medical segment, maintaining its base in Irvine.
The transaction is anticipated to be immediately accretive to all key financial measures, with a strong focus on revenue growth, adjusted gross and operating margins, and adjusted earnings per share. It highlights Edwards Lifesciences' strategic intent to drive innovation and value through partnerships and strategic acquisitions.
Edwards Lifesciences Corporation (NYSE: EW) held its annual meeting on May 5, 2021, where stockholders voted in favor of all board recommendations. Key outcomes included the election of eight directors for one-year terms, approval of executive compensation, and ratification of the independent accounting firm for fiscal 2021. Additionally, the board authorized an extra $1 billion for share repurchases, complementing the remaining $262 million authorization. Changes in board leadership were noted, including Nicholas J. Valeriani's appointment as chair of the compensation committee and William J. Link's retirement.
Edwards Lifesciences is partnering with Providence and local cities to establish two mass COVID-19 vaccination clinics in Orange County, California. The clinics will be located at Edwards' Santa Ana campus and the Orange County Great Park. The Santa Ana site is now operational while the Irvine site opens on April 26, 2021. The initiative, supported by a $500,000 donation from Edwards, aims to vaccinate up to 4,000 residents daily. Providence has already administered over 256,815 doses and is committed to equitable vaccine distribution in vulnerable communities.
Edwards Lifesciences reported Q1 2021 financial results with sales of $1.2 billion, an 8% year-over-year increase. Diluted EPS was $0.54, surpassing expectations. Notable TAVR sales reached $792 million, growing 7%. The company received approval for pivotal trials in TAVR for moderate AS patients and low surgical risk patients in Japan. Adjusted EPS guidance for 2021 has been raised to $2.07 to $2.27. Despite expected near-term COVID impacts, Edwards forecasts robust growth in structural heart procedures, with a projected global TAVR market exceeding $7 billion by 2024.
Edwards Lifesciences (NYSE: EW) is set to announce its operating results for the quarter ending March 31, 2021, after market close on April 20, 2021. A conference call will be held at 5:30 p.m. ET that day to discuss these results. Investors can participate by calling (877) 704-2848 or (201) 389-0893. An audio replay will be accessible for 72 hours post-call. The call will also be available via a live or archived webcast on their Investor Relations website.
Edwards Lifesciences (NYSE: EW) announced positive outcomes from the COMMENCE clinical trial, showcasing its bioprosthetic surgical aortic valve with the RESILIA tissue platform. Data presented at the Society of Thoracic Surgeons meeting indicate excellent safety and hemodynamic performance over five years, with no instances of structural valve deterioration. The study involved 689 patients and marked a significant advancement in valve technology, focusing on durability for active patients. Edwards continues research to validate long-term performance and is committed to enhancing patient care.
Edwards Lifesciences reported Q4 2020 earnings, with sales at $1.2 billion, a 1% increase. TAVR sales rose 2% to $776 million. Adjusted EPS grew 2% to $0.50, while full-year sales reached $4.4 billion, up 1%. However, U.S. TAVR sales declined mid-single digits due to COVID impacts. The company expects 2021 sales growth of 15-20%, with a long-term TAVR opportunity exceeding $7 billion by 2024. Despite some declines in Surgical Structural Heart and Critical Care segments, R&D expenditures increased, focusing on transcatheter innovations.
Edwards Lifesciences (NYSE: EW) will announce its operating results for Q4 2020, ending December 31, 2020, after market close on January 27, 2021. A conference call will follow at 5:00 p.m. ET to discuss the results. Interested participants can join by dialing (877) 704-2848 or (201) 389-0893. An audio replay will be accessible for 72 hours post-call. Edwards Lifesciences is recognized for innovations in structural heart disease and critical care monitoring, aiming to enhance patient care through collaboration with healthcare professionals.
Edwards Lifesciences (NYSE: EW) has initiated the RESTORE clinical trial with the first patient treated for severe degenerative mitral valve regurgitation using the investigational HARPOON Beating Heart Mitral Valve Repair System. This innovative device employs a less invasive technique compared to traditional open-heart surgery, potentially improving recovery for patients. The trial will enroll up to 360 patients across the U.S. and Canada, aiming to establish the device's safety and effectiveness. Edwards also emphasizes its commitment to advancing patient-focused cardiac solutions.
At its annual investor conference on December 10, 2020, Edwards Lifesciences discussed its long-term growth strategy and provided 2021 financial guidance. The company projects global sales between $4.9 and $5.3 billion, with TAVR sales expected between $3.2 and $3.6 billion, reflecting a 15-20% growth rate. Adjusted earnings per share are projected at $2.00 to $2.20. Despite COVID-19 challenges, Edwards anticipates strong growth in TAVR and new product launches across its structural heart portfolio.
Edwards Lifesciences reported Q3 2020 sales of $1.1 billion, a 4% increase from the previous year, with a strong performance in TAVR, which grew 6% to $745 million. Adjusted EPS rose 9% to $0.51, prompting an increase in full-year EPS guidance to $1.85-$1.95. The company noted significant growth potential in TMTT therapies, with $12 million in sales. Overall gross margin was 75.5%. The fourth quarter outlook suggests similar growth to Q3, and the company anticipates double-digit growth in TAVR sales for 2021.
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