Edwards Lifesciences announced on July 15 that it has exercised its option to acquire Innovalve Bio Medical Ltd. following its initial investment in 2017. The purchase price is about $300 million in cash.
Innovalve Bio Medical Ltd. is an early-stage medical device company that develops catheter-based heart valve therapies. The company was founded in 2017 and is based in Israel.
Edwards Lifesciences is an American medical technology company headquartered in Irvine, California, specializing in artificial heart valves and hemodynamic monitoring. It developed the SAPIEN transcatheter aortic heart valve made of cow tissue within a balloon-expandable, cobalt-chromium frame, deployed via catheter.
Combined with Edwards’ existing mitral innovations, the acquisition enhances Edwards’ transcatheter mitral valve replacement technologies to address large unmet structural heart patient needs and support sustainable long-term growth. Innovalve will join the transcatheter mitral and tricuspid therapies product group, led by corporate vice president, Daveen Chopra.
The acquisition is expected to close by the end of 2024. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this acquisition marks the 50th Medical Device transaction of 2024. There were 113 Medical Device deals announced during 2023, and 124 announced during 2022.
