Edwards to Sell Critical Care Group to BD, Focus on Structural Heart Portfolio

June 3, 2024—Edwards Lifesciences announced it has entered into a definitive agreement to sell its Critical Care product group to BD in an all-cash transaction valued at $4.2 billion. Edwards advised that with this agreement, it is no longer pursuing its previously announced spin-off of Critical Care.

According to the press release from Edwards, the company will use the after-tax cash proceeds to fund strategic growth investments in technologies for the treatment of aortic, mitral, tricuspid, and pulmonic patients, as well as new therapeutic areas for interventional heart failure, with the goal of building a comprehensive structural heart disease portfolio.

“Edwards’ underlying rationale for separating Critical Care remains the same: We are laser focused on pursuing a strategy centered on structural heart disease,” commented Edwards CEO Bernard Zovighian in the company’s press release. “Our goal is to serve large unmet patient needs with our differentiated innovations while extending our global leadership, delivering sustainable growth, and increasing shareholder value.

Zovighian continued, “Critical Care has made significant contributions to our company and has a long history of pioneering innovation. We believe this transaction will strengthen Edwards, Critical Care, and BD, paving the way for both companies to deliver even greater value to patients.”

Edwards and BD, in separate press releases, advised that Critical Care will operate as a separate business unit within BD’s Medical segment. It will be led by Katie Szyman, current Corporate Vice President of Critical Care for Edwards. BD noted that the Critical Care portfolio includes the Swan Ganz pulmonary artery catheter, minimally invasive sensors, noninvasive cuffs, tissue oximetry sensors, and monitors.

The transaction is expected to close by the end of 2024, subject to the satisfaction or waiver of certain closing conditions, including the receipt of required antitrust and foreign investment approvals, stated Edwards.