Jomed Valve Repair Sale To Edwards Could Presage Additional Divestitures
This article was originally published in The Gray Sheet
Executive Summary
Edwards Lifesciences will combine Jomed's catheter-based mitral heart valve repair technology with its own percutaneous R&D program under a two-pronged strategy to address a potential $800 mil. global market for the procedure
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Edwards Lifesciences' percutaneous aortic valve PMA submission likely will include a randomized trial with 12-month follow-up
Swiss sell-off
Jomed could declare bankruptcy by April 2, when creditors will vote whether to make the company's preliminary suspension of debt payments final, as advised by Jomed administrators, the firm tells investors March 13. Meanwhile, the company is "intensifying the efforts of divesting certain assets," following completion of a deal with Edwards Lifesciences, involving Jomed's catheter-based heart valve repair technology (1"The Gray Sheet" Feb. 24, 2003, p. 15). By end of trading March 13, Jomed shares dropped $0.84, or 30%, to $2.02...