• Edwards Lifesciences (Irvine, California) reported completing its $27 million acquisition of certain assets of the CardioVations Division of Ethicon (Somerville, New Jersey), that deal first disclosed in November. CardioVations’ product line includes the Port-Access products for performing minimally invasive cardiac valve procedures. The line is expected to generate sales of more than $20 million in 2008. It is not expected to have an impact on earnings in 2008 and will be accretive thereafter.

Edwards in January completed its spin-off of its LifeStent peripheral vascular product line to C.R. Bard (Murray Hill, New Jersey) The deal, first disclosed in December of last year, includes cash payments of about $74 million upon closing and up to another $65 million on the achievement of certain milestones, including FDA approval of LifeStent products for a superficial femoral artery (SFA) indication and the transfer of LifeStent device manufacturing). For 2007, this business represented about $30 million in sales, according to Edwards. Bard said that its Peripheral Vascular division in Tempe, Arizona, will assume marketing responsibility for the product and will immediately begin marketing the products globally. Edwards said it would provide transition services for up to two-and-a-half years following closing. About 150 employees may be affected by the end of the transition, Edwards said, but that it will be working “very closely with all of these employees” to find them new positions, either within Edwards, with Bard or elsewhere. Edwards recently completed the one-year follow-up of 206 patients in its RESILIENT trial, which is comparing the LifeStent device to standard percutaneous transluminal angioplasty (PTA) in the treatment of SFA and proximal popliteal stenotic disease. Edwards said it will continue managing the RESILIENT trial for the next two and a half years. At one year, the PTA-plus-stenting arm of the study demonstrated clear superiority, with 80% primary patency, compared to 38% patency in the PTA only arm. These results were highly statistically significant (p<0.0001), the company said. Additionally, in the SFA, the LifeStent device was found to have a low fracture rate of only 2.9% at one year. Edwards has submitted a pre-market approval application to the FDA, and it said it is currently responding to the agency’s follow-up questions. The LifeStent product family is available in the U.S. for biliary indications only.Bard develops technologies in the fields of vascular, urology, oncology and surgical specialty products.

• LeMaitre Vascular (Burlington, Massachusetts), a provider of peripheral vascular devices and implants, reported acquiring all the stock of Biomateriali (Milan, Italy), a privately held vascular graft manufacturer, for E1.8 million in cash, the assumption of E1.5 million to more than E2 million in liabilities. Biomateriali manufactures straight and bifurcated polyester arterial prostheses. Polyester vascular grafts are used in a variety of arterial replacement and repair surgeries, predominantly open abdominal aortic aneurysm repair, manufacturing these prostheses under the Albograft brand for more than 10 years. Biomateriali’s Albograft implants are CE-marked and distributed by Edwards Lifesciences in Europe and in select international markets. Biomateriali also supplies straight polyester conduit grafts for cardiovascular surgery on an OEM basis to the Sorin Group (Milan). Biomateriali has 30 employees in a 15,000 sq. ft. manufacturing facility in Brindisi, Italy.

• MedCath (Charlotte, North Carolina) reported the completion of the disposition of Heart Hospital of Lafayette (Lafayette, Louisiana) to the Heart Hospital of Acadiana (Lafayette). The aggregate price and other settlement amounts related to the transaction, which was structured as an asset sale, total $25 million, subject to post-closing adjustments, MedCath said. The hospital, opened in March 2004, consists of 32 inpatient beds, two catheterization labs and two operating rooms. MedCath in February reported a letter of intent to sell its interest in Heart Hospital of Lafayette to a group of physicians and investors. Heart Hospital of Acadiana is co-owned by Our Lady of Lourdes, a Lafayette community hospital and local physicians.

• Volcano (San Diego) reported completing its $25 million acquisition of CardioSpectra (San Antonio), a deal first disclosed in early December. Volcano paid $25 million in cash at closing to CardioSpectra’s shareholders and warrant holders. In addition, Volcano may make additional payments upon the achievement of certain product development, regulatory and revenue milestones. Any future payment may be made in cash or stock, or a combination of both at Volcano’s discretion, the company said.CardioSpectra is a private company developing optical coherence tomography (OCT) technology. Volcano said that CardioSpectra’s OCT imaging system is expected to complement its own existing product offerings and further enhance Volcano’s position in the field of interventional medicine. Volcano is a provider of intravascular ultrasound and functional measurement products designed to enhance the diagnosis and treatment of vascular and structural heart disease.