Edwards Lifesciences Corp. is no longer acquiring structural heart company JenaValve Technology for $945 million after a U.S. District Court granted the Federal Trade Commission’s motion for an injunction blocking the deal.
Edwards said that it disagrees with the decision and “believes that the acquisition would have been in the best interest of a large, growing and underserved group of patients.”
As a result, the company is revising its full year 2026 adjusted earnings per share guidance to $2.90 to $3.05 from earlier guidance of $2.80 to $2.90. Edwards said that it will provide more updates in next month’s fourth quarter earnings call.
Edwards in 2024 announced that it was acquiring Irvine-based JenaValve and another company called Endotronix for a combined $1.2 billion. Chief Executive Bernard Zovighian previously told the Business Journal that the company sees emerging opportunities in heart failure and aortic regurgitation.
Shares in Edwards are down 2.4% to $83.12 and a $48.8 billion market cap following the announcement.
