*NEWS: Edwards Lifesciences Makes $100 Million Acquisition to Enhance Its “Smart” Monitoring Capabilities
Edwards Lifesciences today announced its imminent acquisition of an innovative med-tech company, according to a press release issued by OC’s largest public company.
Edwards, a global leader in developing equipment and tech for structural heart disease and critical care monitoring, will acquire CAS Medical Systems, which focuses on non-invasive monitoring of tissue oxygenation in the brain.
Edwards, with HQ in Irvine, will acquire CAS for about $100 million.
“Cerebral oximetry technology provides an important indicator of oxygen levels in the brain, which can enhance clinician decision-making,” Katie Szyman, Edwards’ corporate VP of critical care, said in the release. “We believe the incorporation of CAS’…technology into Edwards’ leading hemodynamic monitoring platform, along with Edwards’ predictive analytics capability, will strengthen Edwards’ leadership in smart monitoring technologies by providing physicians with a more comprehensive status of their surgical and critically ill patients.”
Edwards has a pending 510(k) clearance in the U.S. for a smart cable and software module, which enables compatibility between CAS’ sensor and the HemoSphere’s advanced hemodynamic monitoring platform. This tech was developed as a result of a collaboration between Edwards and CAS and received a CE Mark in Europe.
The acquisition is expected to close in the second quarter.
Edwards specializes in artificial heart valves and hemodynamic monitoring. It’s best known for its transcatheter aortic heart valve, made of bovine tissue within a collapsible stainless-steel stent, deployed via catheter.