Summary
Edwards Lifesciences Corporation (EW) has filed an 8-K report announcing a material definitive agreement to sell certain assets related to its LifeStent peripheral vascular product line to C.R. Bard, Inc. The total transaction value is up to $140 million, with an initial cash payment of approximately $75 million expected at closing, anticipated in January 2008, subject to regulatory approvals. The remaining $65 million will be paid upon achievement of specific milestones, including U.S. regulatory approval for a superficial femoral artery indication and the successful transfer of device manufacturing.
Key Highlights
- 1Sale of Edwards LifeStent peripheral vascular product line assets to C.R. Bard, Inc.
- 2Total transaction value up to $140 million.
- 3Initial cash payment of approximately $75 million at closing.
- 4Additional $65 million contingent on achieving certain milestones (U.S. regulatory approval for SFA indication, manufacturing transfer).
- 5Expected closing in January 2008, pending regulatory approvals.
- 6Edwards will provide transition services for up to 2.5 years post-closing.
Frequently Asked Questions
Edwards Lifesciences is selling certain assets related to its LifeStent peripheral vascular product line.
The buyer is C.R. Bard, Inc.
The total sale price is up to $140 million, comprised of an initial payment and additional payments contingent on milestones.
The transaction is expected to close in January 2008, subject to regulatory approvals.