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SUSTAINABILITY REPORT

Organizational Profile

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Organization's supply chain

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Direct economic value generated and distributed

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Edwards Lifesciences is the global leader in patient-focused innovations for structural heart disease, as well as critical care and surgical monitoring. Our core strategy is to put patients first, challenging ourselves to create innovative products that save and enhance lives.

Since our inception as an independent, public company in 2000, Edwards has grown to more than $2.5 billion in revenue with product sales in nearly 100 countries. We have driven the development of minimally invasive technologies that improve patient outcomes and speed of recovery. Our medical technologies include transcatheter heart valves, surgical heart valves and critical care technologies. The devices we develop and manufacture include:

  • Bioprosthetic tissue heart valves
  • Annuloplasty rings
  • Hemodynamic monitoring products
  • Pressure monitoring products
  • Accessories and instruments

In 2015, Edwards completed the acquisition of CardiAQ Valve Technologies, Inc., a privately held company and developer of a transcatheter mitral valve replacement system. We issued a two-for-one stock split and repurchased 3.9 million split-adjusted shares for $280.1 million.

Also in 2015, the U.S. Food and Drug Administration (FDA) approved the Edwards SAPIEN 3 valve for the treatment of high-risk patients in the United States and the SAPIEN XT valve for aortic valve-in-valve procedures. In 2016, the FDA approved an indication expansion for the SAPIEN 3 valve for the treatment of intermediate risk patients with severe symptomatic aortic stenosis, the SAPIEN XT valve for pulmonic procedures and the EDWARDS INTUITY Elite valve system, a rapid deployment device for surgical aortic valve replacement.

2015 Sales by Product Group

  • Transcatheter Heart Valve Therapy
  • Surgical Heart Valve Therapy
  • Critical Care

2015 Sales by Geographic Region

  • United States
  • Europe
  • Japan
  • Rest of World

Edwards is incorporated in Delaware and headquartered in Irvine, Calif. We operate major manufacturing facilities in the United States, Puerto Rico, the Dominican Republic, Switzerland and Singapore. We also have significant concentrations of employees in Europe and Japan. In 2015, we formed a committee to evaluate the possible establishment of a new facility in Costa Rica. The committee decided in 2016 in favor of the decision, establishing operations for our heart valve network in Costa Rica. We recently welcomed our first class employees there.

Edwards by the Numbers

Total Number of Operations

42 (6 manufacturing locations)

Total Number of Employees as of December 31, 2015

(Including Part-Time and Temporary Employees)

10,116

Employees by Gender in 2015

62% Female

38% Male

Across U.S. and international markets, our customers include physicians, medical professionals, hospitals and group purchasing organizations. In 2015, we derived about half of our sales from the U.S. and half from international markets.

Our primary direct materials suppliers provide:

  • Extruded tubing and extrusions
  • Packaging materials
  • Electronic assemblies and cables
  • Chemicals
  • Contract manufacturing
  • Bovine pericardial tissue
  • Precision machining components
  • Guidewires
  • Injection molded components

We source 80 percent of our manufacturing materials from preferred suppliers and in recent history we typically added fewer than 10 suppliers per year. We minimize the number of suppliers we source from companies headquartered outside the U.S. We source bovine pericardial tissue exclusively from the U.S. and Australia. Our largest indirect suppliers provide telecommunication services, food and catering services, office supplies, uniforms, lab products and cloud software.

DEFINITION