Edwards Lifesciences has bought US-based transcatheter aortic valve replacement (TAVR) company JC Medical from Singapore-based Genesis MedTech for an undisclosed amount.
As part of the purchase, Edwards acquires JC’s J-Valve System, a transcatheter aortic valve replacement for the treatment of severe aortic regurgitation. Edwards paid upfront, plus potential sales-based contingent milestones.
Genesis MedTech will maintain the exclusive right to manufacture the J-Valve system in China.
According to research by GlobalData, the global market for TAVR devices in 2023 stood at approximately $6.8bn with that figure expected to rise to $18.8bn by the end of 2033. In addition, the overall cardiovascular medical device market is set to reach $86.5bn by 2030.
Following the announcement, Edwards Lifesciences' stock value dropped slightly from $69.34 per share down to $67.92 the following day but still maintained a five-day high of $68.26.
The acquisition comes following a busy year of acquisitions for the US medical device giant, with the company picking up Israeli company Innovative Bio-Medical for its transcatheter mitral valve replacement (TMVR) business for $300m last month. Edwards also announced the strategic acquisitions of JenaValve Technology and Endotronix in a $1.2bn upfront payment.
Genesis MedTech Group chairman and CEO Warren Wang said: “J-Valve has unique advantages in treating aortic valve regurgitation.
"We hope that J-Valve can expand its global impact, enabling more patients to benefit from this innovative product. We will continue strengthening our focus on developing innovative products and explore better medical solutions to benefit more patients worldwide."
Elsewhere in the TAVR market, US-based Abiomed has been forced to recall its heart pumps after nine pumps from a failed inspection lot were shipped to customers. Meanwhile, Utah-based heart valve company Foldax has reported favourable early safety results in a trial of its TRIA mitral surgical heart valve.
