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Edwards To Pay Up To $690m For Cardioband-Maker Valtech

 
• By Reed Miller

The Cardioband system is a transcatheter annuloplasty device for repair of mitral and tricuspid valves that should be a natural fit with Edwards transcatheter mitral valve development program. Israel-based Valtech had a deal in September 2015 to be acquired by HeartWare for $900m, but that deal fell through after HeartWare investors protested.

Valtech's Cardioband mitral repair system • Source: SOURCE: Edwards Lifesciences

Edwards Lifesciences Corp. has agreed to pay $340m in stock and cash up front and up to $350m more in milestone payments for Valtech Cardio Ltd., the developer of the Cardioband transcatheter mitral valve repair technology that can also be adapted to repair tricuspid valves.

"We saw an important opportunity to incorporate Valtech's technologies into our comprehensive heart valve repair and replacement portfolio," Edwards CEO Michael Mussallem said

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