IRVINE, Calif., April 18, 2019 /PRNewswire/ -- Edwards
Lifesciences Corporation (NYSE: EW), the global leader in
patient-focused innovations for structural heart disease and
critical care monitoring, today announced the completion of its
acquisition of CAS Medical Systems, Inc. (NASDAQ: CASM) (CASMED), a
medical technology company dedicated to non-invasive brain and
tissue oxygenation monitoring. Edwards announced in February that
it had signed an agreement to acquire CASMED. Under the terms of
the agreement, Edwards paid $2.45 in
cash for each common share of CASMED, which equates to an equity
value of approximately $100
million.
As part of the acquisition, Edwards has acquired CASMED's
FORE-SIGHT non-invasive cerebral oxygenation technology. Edwards
plans to pair the FORE-SIGHT technology with the company's
HemoSphere advanced hemodynamic monitoring platform, which would
create a unique offering of enhanced recovery tools and predictive
analytics capabilities for clinicians.
"The acquisition of the FORE-SIGHT technology represents an
opportunity to grow the Edwards critical care portfolio and further
strengthen the company's leadership in smart monitoring
technologies," said Katie Szyman,
Edwards' corporate vice president, critical care. "We believe this
combination has the promise to provide clinicians with more clarity
and information to deliver improved care for surgical and
critically ill patients."
The FORE-SIGHT technology is currently approved globally,
including the United States,
Europe, China and Japan. In the United
States, Edwards is anticipating a decision later this year
from the Food and Drug Administration for a pending 510(k)
clearance for components that enable compatibility between the
FORE-SIGHT technology and the HemoSphere advanced hemodynamic
monitoring platform.
XMS Capital Partners is serving as financial advisor to Edwards
and Pepper Hamilton LLP is serving as Edwards' legal advisor.
William Blair & Company L.L.C.
is serving as financial advisor to CASMED and Wiggin and Dana LLP
is serving as CASMED's legal advisor.
About Edwards Lifesciences
Edwards Lifesciences, based
in Irvine, Calif., is the global leader in patient-focused
medical innovations for structural heart disease, as well as
critical care and surgical monitoring. Driven by a passion to help
patients, the company collaborates with the world's leading
clinicians and researchers to address unmet healthcare needs,
working to improve patient outcomes and enhance lives. For more
information, visit www.Edwards.com and follow us on Twitter
@EdwardsLifesci.
This news release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These forward-looking
statements include, but are not limited to, Ms. Szyman's statements
and statements regarding expected product benefits, the benefits of
the transaction, including future financial and operating results,
anticipated product approvals, future plans related to the product
lines, objectives and expectations and other statements that are
not historical facts. Such statements are based on the views and
assumptions of the management of the company and are subject to
significant risks and uncertainties.
Actual future events or results may differ materially from these
statements as a result of various factors, including: unexpected
costs or financial impacts of the transaction, unanticipated
outcomes after more expanded clinical experience with the devices,
unexpected changes or delays related to product supply, potentials
for unexpected regulatory or quality delays or developments,
competitive dynamics, global economic conditions and customer
acceptance, and other economic, business, and/or competitive
factors. The forward-looking statements speak only as of the date
of this communication. Except as required by law, we undertake no
obligation to update these statements. These factors are detailed
in the company's filings with the Securities and Exchange
Commission including its Annual Report on Form 10-K for the year
ended December 31, 2018. These
filings, along with important safety information about our
products, may be found at edwards.com.
Edwards, Edwards Lifesciences, the stylized E logo, CASMED,
FORE-SIGHT, and HemoSphere are trademarks of Edwards Lifesciences
Corporation or its affiliates. All other trademarks are the
property of their respective owners.
This statement is made on behalf of Edwards Lifesciences
Corporation and its subsidiaries.
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SOURCE Edwards Lifesciences Corporation