Edwards Lifesciences Acquires CASMED for $100 Million to Enter Cerebral Oximetry Market

VCBeat (WeChat Official Account: vcbeat) has learned that following its $690 million acquisition of Valtech Cardio, an Israeli company specializing in mitral and tricuspid valve repair and replacement technologies, which marked its entry into the field of transcatheter heart valve therapies, Irvine, California-based medical device company Edwards Lifesciences has placed a new bet on cerebral oximetry technology.

Edwards Lifesciences, a global leader in structural heart disease and critical care monitoring, recently announced the acquisition of CAS Medical Systems (CASMED). CASMED is dedicated to non-invasive monitoring technology for cerebral tissue oxygen saturation.

Edwards Lifesciences will acquire CASMED in an all-cash transaction valued at $2.45 per share of common stock, or approximately $100 million in equity value.

Oxygen is the foundation of life activities; hypoxia is the root cause of many diseases and, in severe cases, directly threatens human life. As a carrier, blood transports essential nutrients generated during metabolic processes to tissues while removing harmful byproducts produced by tissue metabolism. Thus, the supply of oxygen and blood is crucial for the normal physiological functions of human tissues.

CASMed’s patented FORE-SIGHT cerebral oximeter enables highly accurate, non-invasive measurement of tissue oxygenation in the human brain, providing real-time monitoring of patients’ cerebral oxygenation status.

“Cerebral oxygen saturation monitoring technology is a key metric for assessing brain oxygen levels, and it can enhance clinicians’ decision-making capabilities,” said Katie Szyman, Vice President of Critical Care at Edwards Lifesciences. “We believe that integrating CASMED’s FORE-SIGHT technology with Edwards Lifesciences’ leading hemodynamic monitoring platform, combined with Edwards Lifesciences’ predictive analytics capabilities, will strengthen Edwards Lifesciences’ leadership in intelligent monitoring technologies and provide physicians with a more comprehensive view of critically ill patients’ conditions.”

Edwards Lifesciences currently has a 510(k) clearance application pending FDA approval for smart cable and software module technology that will enable compatibility between CASMED’s FORE-SIGHT cerebral oximeter and the HemoSphere hemodynamic monitoring platform. This technology was co-developed by Edwards Lifesciences and CASMED and has received CE marking in Europe.

“We are pleased to have the opportunity to combine CASMED’s expertise in cerebral and tissue oxygenation monitoring with Edwards Lifesciences’ long-standing experience in hemodynamic monitoring,” said Thomas M. Patton, President and Chief Executive Officer of CASMED. “We believe that the integration of these technologies will provide physicians with an important measurement tool, enabling them to improve patient care.”

Edwards Lifesciences stated that the acquisition is expected to be completed in the second quarter of this year.

Edwards Lifesciences, founded in 1958 and headquartered in Irvine, California, USA, is a global innovation leader in structural heart disease, critical care, and surgical monitoring. Edwards Lifesciences manufactures medical devices for cardiovascular surgery and is committed to developing innovative technologies in the fields of structural heart disease and critical care, thereby helping to save patients' lives.

CASMED is a medical technology company dedicated to designing and manufacturing innovative, non-invasive technologies and products that are critical for patient care in the most challenging clinical environments. Its patented FORE-SIGHT cerebral oximeter enables highly accurate, non-invasive measurement of tissue oxygenation in the brain, providing real-time monitoring of patients’ cerebral oxygenation status.

(Compiled by: Tan Xin)