Edwards' Winning Heart Valve Strategy
Edwards Lifesciences' strategy of divesting slow-growing businesses and focusing on the relatively underserved niche of late-stage (or what the company now calls advancing stage) cardiovascular disease appears to be paying off. Now the leader in the heart valve market, the company believes that the pressures cardiac surgeons are feeling, coupled with the introduction of devices like drug-eluting stents, might open up new opportunities as surgeons turn to other ways to add value to the treatment of patients with cardiovascular disease.
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After exploring a number of new product markets to drive growth in the decade since its spin-off from Baxter, Edwards has found its sweet spot in its own backyard: heart valves. Through an aggressive early acquisition, the company has emerged as the leader in what looks to be the next major device product market: - transcatheter valves. But in building a transcatheter valve business, Edwards must maintain its surgical customers while also selling to new physician customers: interventionalist cardiologists - a clinical specialty with a history of competing with surgery.
A brief summary of recent product developments in the device industry, including updates on Edwards Lifesciences, Cardiophonics, Boston Scientific. Also, short takes on the Pediatric Medical Device Safety and Improvement Act, and Annual Breast Cancer Screening.
Over the past seven years, since its spin off from Baxter International, Edwards Lifesciences has built a cardiovascular business to challenge the industry giants. In this interview, CEO Mike Mussallem looks back over a 20-year career whose highlights include surviving the Baxter/American Hospital Supply merger and formulating Edwards' vision.