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Edwards Lifesciences Corp.

This article was originally published in The Gray Sheet

Executive Summary

Baxter Healthcare's CardioVascular Group spin-off is being named after Miles "Lowell" Edwards, the founder of American Edwards Lab, which ultimately was acquired by Baxter in 1985. An electrical engineer by training, Edwards was the co-inventor of the first approved artificial heart valve. The tax-free deal, to be effected in the first six months of 2000, gives Baxter shareholders one share of the new company for each six shares of Baxter held. Edwards Lifesciences will be headquartered in Irvine, California, where the CardioVascular Group is based, and led by Baxter Group VP Michael Mussallem (1"The Gray Sheet" Jan. 10, p. 8)

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