News: Edwards to acquire CardiAQ $EW

Edwards Lifesciences Corporation, the global leader in the science of heart valves and hemodynamic monitoring, today announced that it has agreed to acquire CardiAQ Valve Technologies, Inc., a privately held company and developer of a trans catheter mitral valve replacement system.

“CardiAQ is proud of our pioneering efforts in the early development of this transcatheter mitral valve therapy conceived by cardiac surgeon Arshad Quadri, M.D. We believe our technology, which incorporates multiple delivery approaches with a single valve, shows great promise for patients,” said Rob Michiels, chief executive officer of CardiAQ.

The purchase price is up to $400 million, including $350 million in cash at closing, and the remainder payable upon achievement of a European regulatory milestone.

View the full release here.