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 $3 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 2016, Edwards announced the acquisition of Valtech Cardio, Ltd, a privately held company based in Israel and developer of the Cardioband System for transcatheter repair of the mitral and tricuspid valves. We authorized a new share repurchase program to acquire up to an additional $1 billion in outstanding common shares and repurchased 7.3 million shares for $662.4 million.
Also in 2016, the FDA approved an indication expansion for the SAPIEN 3 transcatheter aortic heart valve for the treatment of intermediate risk patients with severe symptomatic aortic stenosis and the SAPIEN XT valve for pulmonic procedures. We also received regulatory approvals for three new devices, including: FDA approval for use of our advanced EDWARDS INTUITY Elite valve system, a rapid deployment device for surgical aortic valve replacement; CE Mark for our INSPIRIS RESILIA aortic valve, the first in a new class of resilient heart valves; and CE Mark for our Acumen Hypotension Probability Indicator (HPI), a breakthrough technology that alerts clinicians to potential hypotension, or abnormally low blood pressure, in their surgical and critical care patients before it occurs. In early 2017, we received FDA clearance for our HemoSphere advanced monitoring platform, which provides clinicians with exceptional clarity on a patient's hemodynamics, or the factors that manage blood flow, to help them make proactive, timely clinical decisions.
2016 Sales by Product Line
- Transcatheter Heart Valve Therapy
- Surgical Heart Valve Therapy
- Critical Care
2016 Sales by Geographic Region
- United States
- Rest of World
Edwards is incorporated in Delaware and headquartered in Irvine, California, USA. We operate major manufacturing facilities in the United States, Puerto Rico, the Dominican Republic, Switzerland and Singapore. We also have a significant employee presence at regional locations in Europe and Japan. In 2016, we broke ground on a new heart valve manufacturing center in Costa Rica and welcomed our first classes of employees to begin training as part of our global heart valve network.
Edwards by the Numbers
Total Number of Operations
65 (6 manufacturing locations)
Total Number of Employees as of December 31, 2016
(Including Part-Time and Temporary Employees)
Employees by Gender in 2016
Across the U.S. and international markets, our customers include physicians, medical professionals, hospitals and group purchasing organizations. In 2016, 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
- Contract manufacturing
- Bovine pericardial tissue
- Precision machining components
- Injection molded components
We source 80 percent of our manufacturing materials from preferred suppliers and in recent years, 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.