from the December 2016 issue

Edwards Lifesciences buys Israeli co Valtech Cardio for $1b

The Or Yehuda based company has developed a valve repair device.

US company Edwards Lifesciences Corporation (NYSE: EW) is acquiring Israeli valve repair device company Valtech Cardio Ltd. The company has developed the Cardioband System for transcatheter repair of the mitral and tricuspid valves. Edwards will pay Valtech $340 million in stock and cash at closing, with the potential for up to $350 million in milestone payments over the next 10 years and $300 million more for Valtech's early-stage transseptal mitral valve replacement technology program.

The Cardioband System combines a reconstruction implant, similar to a surgical annuloplasty mitral valve repair device, with a transcatheter approach. The system utilizes a catheter inserted into the femoral vein and delivered through a transseptal approach across the septum of the heart. The direct annuloplasty system features a unique segmental deployment that conforms to each patient's specific annular geometry, addressing the needs of patients with functional mitral regurgitation.

Reprinted from the Israel High-Tech & Investment Report December 2016

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