Deal summary reprinted from Strategic Transactions - July 2009
Edwards Lifesciences has agreed to sell its hemofiltration product line (also called continuous renal replacement therapy (CRRT)) from its Critical Care unit to Baxter International, its long-term supplier. Find out more...
Edwards will receive $56mm in cash up front and up to $9mm in earn-outs based on revenues over the next twenty-four months. About sixty employees will stay with the product line, which brought in $50mm in 2008, mostly from European sales. Baxter, which spun off Edwards in 2000, provides CRRT supplies across the globe and exclusively sells Edwards' products including the Aquarius monitoring system in China, Latin America, and the US. CRRT provides continuous functions comparable to a human kidney for patients with life-threatening kidney injuries or edema. CRRT is administered in an intensive care unit at the hospital, where it can be adjusted to ensure the correct amount of fluids and waste products are removed from the body. Edwards is selling off the assets to focus on heart valves and hemodynamic monitoring, its more profitable businesses.
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