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The structure of this deal is so interesting. 🏮 Edwards Lifesciences is committing three identical amounts ($5.44 million) for equity, options and licensing of Affluent Medical #structuralheart technology - totaling $16.3 million cited in the headline. 🏮That's roughly what publicly traded Affluent lost last year - 15.4 million Euros (which today is $16.6m). 🏮 Affluent's market cap is only 60 million Euros, so Edwards probably could have acquired the company out right. Edwards is focused exclusively on structural heart projects now, so it'll be interesting to see if this is a conservative investment model for deals going forward. #medtech #medicaldevices #startups #medicaldevice DeviceTalks MassDevice
Cynthia Yee
4w
Structure and amount likely influenced by accounting rules around control and consolidation as much as it was by the strategic value of the technology. Still, Edwards Lifesciences is making some interesting (albeit low capital stakes) early stage bets. My bigger question is when they'll actually buy something, especially with that $4.2B in critical care cash flow.
In silico medicine evangelist. Mechanical Engineering consultant.
1moThe Kalios is very interesting technology, but it's particularly interesting that the transcatheter valve technology is not part of the deal. Obviously Edwards is a leader in that space generally, although nothing is currently on the market for mitral replacement (but with the EVOQUE approved for transcatheter tricuspid replacement, not just repair). The adjustable nature of the Kalios is similar in spirit to the Millipede transcatheter mitral repair device that Boston Scientific acquired back in 2018. Boston Scientific doesn't currently have a transcatheter mitral device, so Edwards adding the adjustable annuloplasty ring in Kalios to their approved PASCAL edge-to-edge repair device is intriguing. Only other approved transcatheter device in the mitral space is, of course, Abbott's MitraClip.