Sources estimate that Edwards will pay hundreds of millions of dollars for Innovalve's trans-catheter mitral valve replacement device. Edwards Lifesciences (NYSE: EW) today announced that it is exercising its option to buy Israeli early stage minimally invasive trans-catheter mitral company Innovalve Bio Medical . No financial details were disclosed but the value of the acquisition is estimated at hundreds of millions of dollars.
Innovalve was founded at Sheba Medical Center in Tel Hashomer by CSO Prof. Ehud Raanani and Dr. Boris Orlov and is managed by CEO Eyal Baror who was previously CEO of Neuronix and PerfAction Technologies.
In 2017 Innovalve signed a technology agreement with Edwards Lifesciences, even before it was officially founded as a company in 2018. RELATED ARTICLES Edwards buys Israeli co Valtech Cardio for $1b Edwards has previously acquired two Israeli companies: heart valve developer PVT for $125 million in 2004, around which Edwards Israel development center was based; and Valtech Cardio in 2017 for $340 million. Edwards development center in Israel has hundreds of employees and the company is deeply involved in collaboration efforts in the Israeli medical device market.
Edwards says that the acquisition enhances its trans-catheter mitral valve replacement (TMVR) technologies to address large unmet structural heart patient needs and support sustainable long-term growth. Innovalve will join the trans-catheter mitral and tricuspid therapies (TMTT) product gro.
