Edwards Lifesciences Corp. (NYSE: EW) today announced its plans to acquire Innovalve Bio Medical, an early stage transcatheter mitral valve replacement (TMVR) company, for about $300 million in cash.
Edwards, the second largest publicly traded company in Orange County, first invested in Innovalve in 2017.
Innovalve will join Edward’s transcatheter mitral and tricuspid therapies product group under the leadership of corporate vice president Daveen Chopra.
“Building on our learnings of the complexity of mitral disease, we know there is a need for a differentiated range of therapies for these patients,” Chopra said in a statement.
“We believe the Innovalve technologies, paired with Edwards’ deep mitral expertise, will enable a TMVR platform that will expand the treatable population.”
The acquisition is expected to close by the end of this year.
