Irvine-based medtech company Edwards Lifesciences Corp. (NYSE: EW) today announced that it will sell its Critical Care Unit to Becton, Dickinson and Co. (NYSE: BDX) for $4.2 billion.
With this agreement, Edwards said that it will no longer pursue a spinoff of the unit that was first announced last year.
The deal is expected to close by the end of this year, according to the announcement.
Once closed, the Critical Care unit will operate in Irvine under the leadership of Critical Care Corporate Vice President Katie Szyman.
For further details, see the June 10 print edition of the Orange County Business Journal.
