Edwards Lifesciences completes $340 million acquisition of Valtech Cardio

Edwards Lifesciences completed its acquisition of Valtech Cardio on Jan. 23 for $340 million in stock and cash.

Edwards said in a news release that it could pay an additional $350 million in prespecified milestone-driven payments during the next 10 years. The companies announced on Nov. 28 that they had agreed to the deal.

Valtech Cardio, which is based in Israel, manufactures the Cardioband System for transcatheter repair of the mitral and tricuspid valves. The system is not yet approved by the FDA, but it has received a CE mark in Europe for the mitral valve application.

Valtech is developing mitral regurgitation treatments to allow patients to avoid open heart surgery, according to its website.