Edwards Lifesciences, a medical device maker based in California, said it has successfully completed the sale of its Critical Care product group to BD for $4.2 billion in an all-cash transaction. The company said the net proceeds from the sale will be used to fund previously announced acquisitions and share repurchases.
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“Critical Care has made significant contributions to our company and has a long history of innovation. We are grateful to the team for their commitment to improving patient outcomes globally,” said Edwards CEO Bernard Zovighian. “The sale of Critical Care reflects our sharpened focus as a structural heart innovator. Within our existing business, TAVR has significant opportunities to grow and improve how AS patients are treated, TMTT’s contribution to Edwards’ growth is just getting started, and we continue to expand our surgical leadership. In addition, our focus will support patients in need of therapies to treat aortic regurgitation and non-valvular structural heart disease through implantable technologies.”
BD said the group, which will be renamed BD Advanced Patient Monitoring, houses technologies including the Swan Ganz pulmonary artery catheter, minimally invasive sensors, noninvasive cuffs, tissue oximetry sensors and monitors.
"The health care industry is being redefined by AI, robotics, and autonomous solutions, and our team continues to accelerate the application of these new technologies to improve the quality and cost of patient care around the world," said Tom Polen, chairman, chief executive officer and president of BD. "Today, BD is proud to welcome BD Advanced Patient Monitoring, whose leading technologies, AI-enabled solutions and strong innovation pipeline expand our portfolio of smart, connected care solutions, create significant value for customers, and put BD at the forefront of enabling the future of health care."
