Edwards Lifesciences Buys CAS For $100M
Edwards Lifesciences has made its first acquisition since 2017, inking a $100m deal to buy monitoring technology company CAS Medical Systems.
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Sales of Sapien transcatheter aortic valves grew about 27% year over year in the third quarter of 2019 while revenues from Edwards’ transcatheter mitral and tricuspid therapies grew to almost $10m, led by sales of the Pascal transcatheter mitral repair system in Europe.
Edwards Lifesciences is giving up on the Centera transcatheter aortic valve replacement (TAVR), despite promising clinical results, to focus on its Sapien TAVR line. The company reported overall revenue of $1.1bn in the second quarter of 2019, representing 14% year-over-year growth, driven by 18% growth in sales of Sapien systems.
Device financing totaled $1.6bn for the first quarter of 2019. Late-stage venture rounds were the most active category, led by Nuvaira's $79m Series E financing. Merger and acquisition activity reached $7.3bn; in the largest transaction of the quarter, Ethicon acquired Auris Health for up to $6bn. Diagnostics/research financing reached $1.7bn, and ten diagnostics/research tools companies were acquired, five of which together were valued at $22.6bn.