Edwards Completes Acquisition of CardiAQ

According to PRNewswire, Edwards Lifesciences Corporation recently completed its acquisition of CardiAQ Valve Technologies, Inc, a developer of transcatheter mitral valve replacement systems, which follows from Edwards’ acquisition agreement announced last month.  The article reports that Edwards paid $350 million cash for CardiAQ at closing, with an additional $50 million to be paid upon reaching a European regulatory milestone.

Michael Mussallem, Edwards’ Chairman and CEO, stated:

We look forward to the CardiAQ team joining Edwards.  We believe the combined knowledge and efforts of the talented CardiAQ and [Edwards’ own] FORTIS transcatheter mitral valve system teams will help us advance a therapy that offers a meaningful solution for patients.

Marketwatch reports that none of CardiAQ’s valve systems are presently approved for sale in any country.  However, according to PRNewswire CardiAQ has received U.S. FDA Investigation Device Exemption approval to conduct an early feasibility study of up to 20 patients, and also plans to initiate a CE Mark study in Europe.

Dan Fischer
Dan Fischer is an associate at our New York office. In his practice, Mr. Fischer assists clients large and small in various technological fields including metals/alloys, polymers, composites, medical devices, semiconductors, oil pipes, catalytic converters, and building construction. Mr. Fischer received his J.D. from the University of Southern California. During law school, he worked in the USC IP and Tech clinic. Before attending law school, Mr. Fischer attended the University of Illinois and received a B.S. in Materials Science Engineering with concentrations in biomaterials and polymers. Mr. Fischer also worked in the Materials Lab at FermiLab. Mr. Fischer worked as a summer associate at the firm in 2010 and joined the firm as an associate in 2011.
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