Edwards Lifesciences Acquiring CAS Medical Systems for $100 Million in Cash
Today Edwards Lifesciences Corp. announced it will acquire CAS Medical Systems, Inc., a company that provides non-invasive monitoring of tissue oxygenation in the brain. Today’s news of the all-cash deal, with an equity value of about $100 million, pushed shares of CASMED’s stock up 54% (a six-month high for the company) during the morning trading period.
“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,” said Katie Szyman, Edwards’ corporate vice president, critical care in a company press release. Edwards has a pending 510(k) clearance for a smart cable and software module that provides compatibility between the CASMED FORE-SIGHT sensor and the Edwards HemoSphere (it has already receive the CE Mark).
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