Edwards Lifesciences to acquire Casmed for $100m

Edwards Lifesciences (NYSE:EW) said today that it inked a deal to acquire CAS Medical System (NSDQ:CASM) and its non-invasive brain tissue oxygenation monitoring tech for approximately $100 million. Irvine, Calif.-based Edwards said that it will pay $2.45 per share of common stock of Branford, Conn.-based Casmed in the all-cash deal. Edwards said that it currently has a pending FDA 510(k) clearance submission for a smart cable and software module that will allow for compatibility between Casmed’s Fore-sight cerebral oximeter, intended to provide non-invasive tissue oxygenation measurements, and Edwards’ HemoSphere hemodynamic monitoring platform. The device was the result of a collaborative deal between the two companies, and already has CE Mark clearance in the European Union, Edwards said. “Cerebral oximetry technology provides an important indicator of oxygen levels in the brain, which can enhance clinician decision-making. We believe the incorporation of Casmed’s Fore-Sight technology into Edwards’ leading hemodynamic monitoring platform, along with Edwards’ predictive analytics capability, will strengthen Edwards’ leadership in smart monitoring technologies by providing physicians with a more comprehensive status of their surgical and critically ill patients,” Edwards critical care corp VP Katie Szyman said in a prepared statement. Edwards said that as a condition of the acquisition’s closing, each holder of Casm...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured Mergers & Acquisitions Wall Street Beat CAS Medical Systems Inc. Edwards Lifesciences Source Type: news