On Monday, Edwards Lifesciences announced that it had reached an agreement to sell Becton Dickinson its Critical Care products division for a $4.2 billion all-cash deal.
Edwards, a California-based company, stated that it is abandoning its earlier plans to spin off the critical care unit in light of this arrangement.
In April, the manufacturer of medical equipment announced that it would separate its critical care segment and focus on its broader heart devices business by the end of 2024. The primary product of California-based Edwards, Transcatheter aortic valve replacement (TAVR) devices, has been the subject of intense competition. Patients with heart valve dysfunction can have minimally invasive surgery thanks to these devices.
If certain closing conditions are met or waived, the transaction is anticipated to close by the end of 2024.