BD Completes $4.2 Billion Acquisition of Edwards Lifesciences' Critical Care Business, Launches BD Advanced Patient Monitoring

September 3, 2024Becton，Dickinson and Company(hereinafter referred to as BD) announced that it would$4.2 billion(A full-cash transaction of approximately 29.86 billion RMB at the exchange rate at the time of the deal) to complete the acquisition ofEdwards Lifesciences(hereinafter referred to as Edwards Lifesciences)Critical Care Product GroupThe acquisition, after which the product group will be renamedBD Advanced Patient Monitoring.

According to public information,BD Advanced Patient Monitoring will operate as an independent business unit within the BD Medical segment.The operational model (Intelligent Connected Care approach), as well as the business aspects, will remain consistent with what they were prior to the acquisition. Katie Szyman, who has served as Vice President of Edwards Lifesciences since 2015, will be appointed as the Global President of BD Advanced Patient Monitoring and will report to Mike Garrison, Executive Vice President and President of BD Medical.

Before this acquisition event,BD has not made significant investments in the intensive care field,Only simple monitoring systems, venous catheters, and blood collection devices are available. After the acquisition, BD Medical will immediately gain a series of mature critical care products, enriching its medical product pipeline in the fields of intelligent monitoring and advanced patient care. At the same time, it can integrate Edwards Lifesciences' R&D resources and expertise in this field to accelerate the development of new products and the improvement of existing ones.

Before the critical care product group was acquired, Edwards Lifesciences was a medical device company focused on the treatment of heart disease and the field of critical care.In 2023, the critical care business generated more than $900 million in revenue for Edwards Lifesciences., its products are used in more than 10,000 hospitals worldwide.

Edwards Lifesciences' critical care business includes a series of intelligent monitoring solutions that utilize artificial intelligence technology to improve patient care, whereinSwan-Ganz Pulmonary Artery CatheterOnce recognized as the gold standard for monitoring pulmonary artery pressure.

Swan-Ganz Pulmonary Artery Catheter

In addition to Swan Ganz, Edwards Lifesciences' critical care products also include minimally invasive sensors, non-invasive cuffs, tissue oxygenation sensors, and monitors. These intelligent technologies, driven by advanced data analytics and incorporating machine learning and AI-based predictive and prescriptive algorithms, can help clinicians better understand current and future patient conditions while providing clinical decision support.

After divesting its critical care business, Edwards Lifesciences stated it will focus on cardiac device operations.According to Edwards CEO Bernard Zovighian's public statement: "In the future, Edwards Lifesciences will focus on implantation technology to help patients with aortic regurgitation and non-valvular structural heart disease."

Since Edwards Lifesciences established its subsidiary in China in 2001, the company has been developing in the Chinese market for more than two decades.Its business mainly focuses on structural heart disease, and several innovative products have been approved for marketing in China.

Such as those approved in 2020SAPIEN 3 Transcatheter Aortic Valve, is the first balloon-expandable heart aortic valve product approved in China, primarily targeting patients with severe calcific aortic valve stenosis. Notably, this product includes a skirt at the base of the valve to reduce the possibility of leakage around the valve, enhancing the safety and efficacy of the procedure.

In 2023, the indication for SAPIEN 3 was expanded and approved, making it the first balloon-expandable transcatheter aortic valve replacement product in China approved for use in patients with moderate to low-risk aortic stenosis. According to publicly available data from Edwards Lifesciences, the clinical procedural success rate of SAPIEN 3 in China exceeds 98%, significantly reducing common complications such as paravalvular leakage and pacemaker implantation.

In addition to SAPIEN 3, Edwards Lifesciences also hasINSPIRIS RESILIA Surgical Aortic ValveProducts such as these have been approved in China. According to the "China Medical Device Blue Book (2022 Edition)," Edwards Lifesciences products account for up to 40% of the domestic bioprosthetic valve applications.

In addition, Edwards Lifesciences has conducted multiple close collaborations with companies in China. In 2021,Edwards Lifesciences Announces Collaboration with MindrayThe FloTrac series products under Edwards Lifesciences have been integrated into Mindray's BeneVision N series patient monitors, aiming to provide clinicians with accurate monitoring data to help them make better customized solutions. This collaborative product entered the Chinese market in 2022 and has already been used in well-known hospitals in Beijing, Hebei, and other regions.

In terms of distribution,Edwards Lifesciences has also reached a cooperation with Sinopharm Group United Medical Devices Co., Ltd., focusing on regional distribution cooperation for Edwards Lifesciences' critical care, transcatheter aortic valve, and surgical aortic valve products, utilizing digital means to enhance market competitiveness.

This shows that Edwards Lifesciences has successfully established a localized pathway in China. In the future, with deeper collaboration between Edwards Lifesciences and Chinese researchers and enterprises, more innovative products and advanced technologies will enter the Chinese market, further meeting the needs of Chinese patients and driving progress in China's medical innovation.