By Colin Kellaher


Edwards Lifesciences has exercised its option to buy Innovalve Bio Medical for about $300 million in cash.

Edwards on Monday said the early-stage transcatheter mitral valve replacement, or TMVR, company, has shown progress in its program, with promising early clinical experience, since the initial investment by Edwards in 2017.

Edwards said the deal, slated to close by the end of the year, bolsters its TMVR technologies to address unmet needs in the area of structural heart disease.

Innovalve will join the Irvine, Calif., company's transcatheter mitral and tricuspid therapies product group.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

07-15-24 0957ET