Local MS Society Pursues Corporate Strategy; PacifiCare Provides Health Info
Edwards Lifesciences Corp. was spun off of Baxter International Inc. nearly two years ago in order to concentrate on developing and manufacturing heart valves and other cardiovascular devices. And Edwards officials shared plenty of information about valves during a recent investor conference at its Irvine corporate headquarters.
Among the presentations was one on Edwards’ research and development goals by Stu Foster, corporate vice president of discovery and technology. Those include, he said, near-term upgrades to Edwards’ current heart valves, widening the use of valves by developing minimally invasive procedures, developing a next-generation valve and research on future valves and valve repair strategies.
Edwards has “a very rich, robust pipeline,” Foster said, noting that he believes it will help Edwards maintain its market position as a prominent heart valve maker.
Anita Bessler, Edwards’ corporate vice president of global franchise management, preceded Foster at the conference. Bessler’s talking points included Edwards’ efforts to ensure that tissue heart valves, which have gained popularity in the U.S. and other Western markets, perform well and don’t wear out. Some cardiologists have expressed concern about tissue valve longevity, particularly as it pertains to potential patients in their 40s and 50s.
“We want to improve the performance; that’s where we will focus our efforts,” Bessler said.
Company officials also covered the company’s critical care and vascular therapy businesses during the conference. In addition, the conference talked about several other growth initiatives, such as distributing laser devices to improve blood circulation in the heart and surgical treatments for heart rhythm disorders.
In heart rhythm disorder news, Edwards said it entered into an exclusive, two-year agreement to develop surgical heart rhythm disorder products from CardioFocus Inc., a private company based in Norton, Mass. CardioFocus’ technology will provide a basis for future development. Edwards also plans to make an equity investment in CardioFocus.
Edwards Chief Executive Michael Mussallem finished up the event with a financial outlook. Among other things, the device maker expects to achieve its previously stated 20% net income growth in 2001, and expects net income growth to be at least 15% in 2002, Mussallem said.
MS Society Wants You
The National Multiple Sclerosis Society’s Orange County chapter is concentrating on getting more area corporations involved in the fight against the so-far incurable neuromuscular disease. The MS Society’s local offices are in Irvine.
“Corporations can be involved at different levels,” said Carolina Cormac, the OC chapter’s director of development. As an example, Cormac cited the chapter’s Bay Bike Ride from Newport Beach to San Diego coming up in October. The ride is the local society’s largest fund-raiser,Cormac said a goal of $750,000 is being set.
“They can support (the ride) with cash or in-kind contributions,” Cormac said. Sponsors include PacifiCare Health Systems Inc., Santa Ana, which Cormac said was an underwriter of the bicycle ride. Riders also find sponsors willing to make pledges to the society.
The society also puts on the MS Walk, a spring fund-raiser. Cormac said that also generates corporate support, noting that a team from Allergan Inc., Irvine, won a trophy at this past spring’s event.
The MS Society is starting an initiative to present area corporations with a booklet laying out its menu of programs and services, Cormac said, to introduce the society to potential new donors.
Yet another example, society officials said, is honoring John Wareham, chief executive of Beckman Coulter Inc., Fullerton, at a dinner planned for September.
MS Society efforts to court corporations came about because “of the demographics. This is one of the world’s largest economies,” Cormac said. A business thrust is also a goal of the society’s national offices, she said.
Besides raising funds for research, the National Multiple Sclerosis Society’s other primary effort is providing programs and information for people with the disease, and their family and friends.
Bits and Pieces:
PacifiCare Health Systems Inc., Santa Ana, unveiled a health information program for its members. The initiative includes a Web-based, interactive health library and Live Assist, an online chat feature. There are also off-line services and a “nurse line” telephone service AIDS Services Foundation Orange County, Irvine, started a health education program for people who are living with the HIV virus or the disease. The program’s focus is on drug therapy adherence and other lifestyle issues. A $150,000 grant from the California Foundation provided a major portion of the program’s funding Orange County Friendship Center, a mental health clinic in Garden Grove, said it is offering a program combining medical and psychiatric care, along with occupational therapy and job assistance. The center is owned by Universal Care, a Long Beach-based managed care company Ponte Nossa Acquisition Corp., Irvine, acquired Visijet Inc., a privately held medical device company also located in Irvine. Terms weren’t disclosed.
