|Exchange:||New York Stock Exchange|
|Stock:||Edwards Lifesciences Corporation|
|Edwards Lifesciences Corporation was incorporated in Delaware on September 10, 1999. It is a provider of products and technologies designed to treat advanced cardiovascular disease. The Company is focused specifically on technologies that treat structural heart disease and critically ill patients. Cardiovascular disease is the number-one cause of death in the world, and is the top disease in terms of health care spending in nearly every country. Cardiovascular disease is progressive in that it tends to worsen over time and often affects an individual's entire circulatory system. In its later stages, cardiovascular disease is frequently treated by surgical interventions. The products and technologies provided by the Company to treat advanced cardiovascular disease are categorized into four main areas: Heart Valve Therapy; Critical Care; Cardiac Surgery Systems; and Vascular. The Company's Heart Valve Therapy portfolio is comprised of tissue heart valves and heart valve repair products. Tissue heart valves and repair products are used to replace or repair a patient's diseased or defective heart valve. In the Critical Care area, the Company is a provider of hemodynamic monitoring equipment used to measure a patient's cardiovascular function and in disposable pressure transducers, and also provides central venous access products for fluid and drug delivery. The Company's Cardiac Surgery Systems portfolio comprises a diverse line of products for use during cardiac surgery including cannula, EMBOL-X technologies, and other disposable products used during cardiopulmonary bypass procedures. In December 2007, the Company acquired the CardioVations line of products used in MIS. The Company's Vascular portfolio includes a line of balloon catheter-based products, surgical clips and inserts, artificial implantable grafts, and stents for which approval is being sought for use in treatment of peripheral vascular disease. It operates manufacturing facilities in a number of geographies around the world. It maintains heart valve manufacturing facilities in California, Switzerland, and Singapore. Critical Care products are manufactured mainly in the Company's facilities located in Puerto Rico and the Dominican Republic. Edwards' Cardiac Surgery Systems and Vascular products are manufactured mainly in Utah and Puerto Rico, respectively. The Company sold the LifeStent product line in January 2008, but would continue to manufacture these products for the buyer until the earlier of mid-2010 or the transfer of manufacturing to the buyer. The healthcare marketplace continues to be competitive with strong global and local competitors. The Company competes with many companies, ranging from small start-up enterprises to companies that are larger and more established than it with access to financial resources. Furthermore, rapid product development and technological change characterize the market in which the Company competes. The Company's primary competitors include St. Jude Medical, Inc., Medtronic, Inc. and Sorin Group. In Critical Care, Edwards Lifesciences competes primarily with a variety of companies in specific product categories including ICU Medical, Inc., PULSION Medical Systems AG and LiDCO Group PLC. The Company is subject to various federal, state, local, and foreign environmental protection laws and regulations, including those governing the adverse impact on the environment.|
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