We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Edwards Lifesciences Makes Investments in Heart Failure Space
Read MoreHide Full Article
Edwards Lifesciences Corporation (EW - Free Report) recently announced that it has closed two strategic acquisitions within the space of structural heart disease and critical care monitoring.
The first deal includes the purchase of Corvia Medical Inc. for a transaction value of $35 million. Corvia Medical is famed as the designer of the world’s first transcatheter device aimed at treating heart failure.
The company also acquired Mitralign Inc. for an undisclosed value. However, the company stated that it has acquired certain assets of Mitralign, which include the latter’s intellectual property rights, and related clinical and regulatory experiences. Mitralign is a developer of investigational transcatheter annuloplasty system aimed at treating mitral and tricuspid regurgitation.
Both the transactions align with Edwards Lifesciences’ goal of enabling access to the most innovative medical care for patients of structural heart disease.
Hence, Edwards Lifesciences currently is a major medical device company in the field of structural heart disease, critical care and surgical monitoring.
How Strategic Are the Acquisitions?
Corvia Medical’s Inter-atrial Shunt Device has been developed to provide consistent and dynamic decompression to the left atrium, which may deliberate the progression of heart failure. Edwards Lifesciences is highly optimistic about the market acceptance of this device, which has already achieved CE mark in Europe. It is currently in the clinical trial stage and awaiting approval from the FDA.
Mitralign’s therapy for the alleviation of functional mitral regurgitation holds great promise in the market, as four million people alone in the United States suffer from the disease.
Thus, both the acquisitions are expected to strengthen Edwards Lifesciences’ portfolio of cardiovascular devices.
Market Prospects
The global market for cardiovascular devices is projected to reach a value of $66.70 billion by 2024, progressing at a CAGR of 6.5% during the forecast period of 2018-2024. Considering the solid global prospects, these acquisitions by Edwards Lifesciences are strategically-timed.
Recent Acquisition by Edwards Lifesciences
In February 2019, Edwards Lifesciences announced that it has closed a deal to acquire CASMED, a medical technology company specializing in non-invasive of tissue oxygenation in the brain.
Price performance
Over the past year, Edwards Lifesciences’ stock has outperformed the industry it belongs to. The stock has gained 24% compared with the industry's increase of 4.4%.
Zacks Rank & Key Picks
Edwards Lifesciences has a Zacks Rank #3 . A few better-ranked stocks in the broader medical space are ABIOMED, Inc., (ABMD), Varian Medical Systems, Inc. and Masimo, Inc. (MASI - Free Report) . Notably, each of these stocks currently carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ABIOMED’s long-term earnings growth rate is expected at 27.67%.
Varian’s long-term earnings growth rate is projected at 8.00%.
Masimo’s long-term earnings are projected to grow 15.60%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%. This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
Image: Bigstock
Edwards Lifesciences Makes Investments in Heart Failure Space
Edwards Lifesciences Corporation (EW - Free Report) recently announced that it has closed two strategic acquisitions within the space of structural heart disease and critical care monitoring.
The first deal includes the purchase of Corvia Medical Inc. for a transaction value of $35 million. Corvia Medical is famed as the designer of the world’s first transcatheter device aimed at treating heart failure.
The company also acquired Mitralign Inc. for an undisclosed value. However, the company stated that it has acquired certain assets of Mitralign, which include the latter’s intellectual property rights, and related clinical and regulatory experiences. Mitralign is a developer of investigational transcatheter annuloplasty system aimed at treating mitral and tricuspid regurgitation.
Both the transactions align with Edwards Lifesciences’ goal of enabling access to the most innovative medical care for patients of structural heart disease.
Hence, Edwards Lifesciences currently is a major medical device company in the field of structural heart disease, critical care and surgical monitoring.
How Strategic Are the Acquisitions?
Corvia Medical’s Inter-atrial Shunt Device has been developed to provide consistent and dynamic decompression to the left atrium, which may deliberate the progression of heart failure. Edwards Lifesciences is highly optimistic about the market acceptance of this device, which has already achieved CE mark in Europe. It is currently in the clinical trial stage and awaiting approval from the FDA.
Mitralign’s therapy for the alleviation of functional mitral regurgitation holds great promise in the market, as four million people alone in the United States suffer from the disease.
Thus, both the acquisitions are expected to strengthen Edwards Lifesciences’ portfolio of cardiovascular devices.
Market Prospects
The global market for cardiovascular devices is projected to reach a value of $66.70 billion by 2024, progressing at a CAGR of 6.5% during the forecast period of 2018-2024. Considering the solid global prospects, these acquisitions by Edwards Lifesciences are strategically-timed.
Recent Acquisition by Edwards Lifesciences
In February 2019, Edwards Lifesciences announced that it has closed a deal to acquire CASMED, a medical technology company specializing in non-invasive of tissue oxygenation in the brain.
Price performance
Over the past year, Edwards Lifesciences’ stock has outperformed the industry it belongs to. The stock has gained 24% compared with the industry's increase of 4.4%.
Zacks Rank & Key Picks
Edwards Lifesciences has a Zacks Rank #3 . A few better-ranked stocks in the broader medical space are ABIOMED, Inc., (ABMD), Varian Medical Systems, Inc. and Masimo, Inc. (MASI - Free Report) . Notably, each of these stocks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ABIOMED’s long-term earnings growth rate is expected at 27.67%.
Varian’s long-term earnings growth rate is projected at 8.00%.
Masimo’s long-term earnings are projected to grow 15.60%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%. This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>