Edwards Lifesciences is the global leader in patient-focused medical 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 $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:
In 2017, Edwards announced the acquisition of Harpoon Medical, Inc., a privately held medical technology company pioneering beating-heart repair for degenerative mitral regurgitation. We authorized a new share repurchase program to acquire up to an additional $1 billion in outstanding common shares. We also entered into an accelerated share repurchase agreement to acquire $150 million of Edwards' common stock. Upon entering into the agreement, Edwards received and retired an initial delivery of 1.1 million shares.
Also in 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. The Edwards SAPIEN 3 transcatheter heart valve received FDA approval for use in aortic and mitral valve-in-valve procedures. And, the FDA approved our INSPIRIS RESILIA aortic valve, the first in a new class of resilient heart valves.
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, Costa Rica and Singapore. We also have a significant employee presence at regional locations in Europe and Japan.
|Total Number of Operations||65 (7 manufacturing locations)|
|Total Number of Employees as of December 31, 2017
(Including Part-Time and Temporary Employees)
|Employees by Gender in 2017||62% Female
Note: In 2017, we announced the planned closure of our Horw, Switzerland facility to shut down in 2018.
Across the U.S. and international markets, our customers include physicians, medical professionals, hospitals and group purchasing organizations. In 2017, we derived 56 percent of our sales from the U.S. and 44 percent from international markets.
Our primary direct materials suppliers provide:
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 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.
In 2017, we started mapping the governance structures in five key areas of our business: Product Safety and Quality; Corporate Governance; Ethics and Compliance and Corruption and Bribery; Environmental Health and Safety; and the Edwards Lifesciences Foundation. These governance maps illustrate Edwards’ internal accountability structures for managing these topics. Going forward, we hope to expand this mapping exercise to include more of our key sustainability topics and responsible practices.