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Our Financial Relationships with U.S. Physicians
Edwards Lifesciences has always been proud of its relationships with clinicians, which led to the development of the first commercially available artificial heart valve and the establishment of our company 50 years ago. Medical innovation is dependent on these physician partnerships, and we believe that bringing transparency to these relationships will help the public better understand the critical role they play in the advancement of medical technology and patient care.
- Edwards has a long history of working collaboratively with physicians to discover and develop new technologies for patients.
- Some advanced medical devices are very complex and require training and other educational activities. Edwards frequently relies on the expertise of clinicians to develop and deliver hands-on training programs. In some cases, the U.S. Food & Drug Administration (FDA) actually mandates such training to maximize patient safety.
- Edwards also has royalty obligations on the sale of some patented products invented by physicians.
Edwards’ Voluntary Physician Payment Reporting Program
In 2008, Edwards announced that we would publish the names of U.S. physicians who received $5,000 or more from Edwards for consulting services, royalty payments, and speaking fees in the first six months of 2009. This information will be published annually thereafter.
Payments to U.S. Physicians for the First Half of 2009
A History of Partnership Continues Today
The foundation of Edwards Lifesciences is built on collaboration with physicians. More than 50 years ago, an engineer and a physician began working together to develop the world’s first commercially available heart valve. The partnership between our founder, Miles “Lowell” Edwards, and Dr. Albert Starr was the catalyst for developing a series of heart valve technologies that have transformed patient care and kept Edwards’ products at the forefront of innovation.
Today, the evolution of medical technology remains dependent on these important relationships. In addition, physicians around the world rely on training and education sponsored by Edwards to help advance their understanding of the latest developments in medical techniques. The best trainers of physicians are usually other physicians, and Edwards is proud to provide funding to facilitate that sharing of expertise. |
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Our relationships with physicians cover a broad spectrum, including:
- Proctoring/training/speaking arrangements in which physicians provide “hands-on” training or educational lectures to other physicians;
- Research agreements in which physicians provide expert medical advice and knowledge regarding Edwards’ products and services;
- Royalty/licensing arrangements in which physicians assist Edwards in the design, development and patenting of new medical technologies.
All of our physician arrangements are in full compliance with all applicable laws, rules and regulations, including the Advanced Medical Technology Association’s (“AdvaMed”) AdvaMed Code of Ethics.
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