RAMAT GAN, Israel – July 15, 2024 – ARC Innovation at Sheba Medical Center, Israel’s largest medical center announced today another successful startup exit from within its innovation ecosystem with the acquisition of Innovalve Bio Medical Ltd by Edwards Lifesciences Corporation (NYSE: EW), a global leader in patient-focused medical innovations for structural heart disease, as well as critical care and surgical monitoring. Following the acquisition, Innovalve will join Edwards’ transcatheter mitral and tricuspid therapies (TMTT) product group.
Founded in 2017 at ARC Innovation in Sheba Medical Center, Innovalve has developed an artificial mitral valve that can be replaced using a minimally invasive catheter to help treat patients suffering from heart disease. Innovalve has received FDA approval to begin clinical studies in humans. To date, more than 40 successful surgeries have been performed with this technology on humans.
The company grew out of inventions and patents developed by Prof. Ehud Raanani, Director of Sheba Medical Center’s Cardiovascular and Thoracic Center and Dr. Boris Orlev, Head of Sheba Medical Center’s Mitral Valve Surgery Unit. Today, Innovalve is led by CEO, Eyal Bar-Or and is located at Sheba allowing for close collaboration with clinicians and developers.
“The health system is an engine of economic growth for the Israeli economy, Innovalve’s exit joins other Sheba companies acquired in recent months by international biomed giants, which have repeatedly expressed confidence in innovation coming out of Sheba,” said Prof. Yitshak Kreiss, Director General of Sheba Medical Center. “These achievements are made possible thanks to ARC – Sheba’s unique innovation platform, which encourages the development of groundbreaking technologies through the combination of technological entrepreneurship and extensive clinical knowledge and experience, at the patient’s bedside. Soon we will see more and more deals of this kind, the fruits of which strengthen and develop the public health system. This is a real revolution that transforms the health system, which for years had to budget for the state, into a factor that generates significant revenues for the Israeli economy.”
ARC (Accelerate, Redesign, and Collaboration) aims to integrate groundbreaking innovations in global health through international collaborations and structured access to innovation, focusing on digital health. Innovalve joins other successful ARC Innovation network companies like Belkin Vision, Endoways and BurnAlong, which have also achieved notable exits.
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About ARC
ARC is powering the transformation of health. Through its continuous pipeline of innovation, ability to facilitate large-scale transformation, access to leading health organizations, and ability to drive economic growth and development, ARC equips all player-types in the ecosystem to transform global health. For more information, visit: https://arcinnovation.org
About Sheba Medical Center
The largest and most comprehensive medical center in the Middle East, Sheba Medical Center, Tel Hashomer is generating global impact through its medical care, research and healthcare transformation. Sheba’s City of Health boasts acute-care, rehabilitation, children’s, cancer and geriatric hospitals, research and innovation hubs, medical simulation center and center for disaster response on one comprehensive campus in the center of Israel. Sheba serves as a true hospital without borders, welcoming users and healthcare professionals from all over the world and consistently providing the highest-level medical care to all in need. Sheba has been ranked a World’s Best Hospital by Newsweek six years in a row (2019 – 2024). For more information, visit: https://sheba-global.com/
Media Contact:
Steve Walz
Sheba Medical Center
Steve.Walz@sheba.health.gov.il
About Edwards Lifesciences
Edwards Lifesciences is the global leader of patient-focused innovations for structural heart disease and critical care monitoring. We are driven by a passion for patients, dedicated to improving and enhancing lives through partnerships with clinicians and stakeholders across the global healthcare landscape. For more information, visit Edwards.com and follow us on Facebook, Instagram, LinkedIn, X and YouTube.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements made by Mr. Chopra and Dr. Kodali, and statements regarding expected product benefits, patient outcomes, objectives and expectations and other statements that are not historical facts. Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict. Our forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement. Investors are cautioned not to unduly rely on such forward-looking statements.
Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those expressed or implied by the forward-looking statements based on a number of factors as detailed in the company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2022, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30, and September 30, 2023. These filings, along with important safety information about our products, may be found at Edwards.com.
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Media Contact: Loree Bowen, 714-403-2475
Investor Contact: Mark Wilterding, 949-250-6826
Source: Edwards Lifesciences Corporation
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