Express News | Edwards Lifesciences Corp : Bernstein Cuts Target Price to $65 From $73
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Correction: Peijia Medical Unit to Sell Minority Stake in US-Based Medical Device Firm
JenaValve, a partner of Perk Jia Medical, has been fully acquired by Edwards Lifesciences, marking a new chapter in the treatment of aortic valve regurgitation through catheterization.
Suzhou, July 26, 2024 / PRNewswire / -- On July 24, 2024, Peijia Medical (9996.HK) partner JenaValve Technology, Inc. (hereinafter referred to as JenaValve) announced an agreement with the US medical equipment giant Edwards Lifesciences (NYSE: EW, hereinafter referred to as "Edwards") for Edwards Lifesciences to acquire JenaValve wholly. After the transaction, Peijia Medical will continue to exclusively hold the JenaValve Trilogy THV system in the Greater China region.
Hold Rating on Edwards Lifesciences Amid TAVR Challenges and Competitive Pressures
After Edwards Lifesciences (EW.US) unexpectedly lowered its TAVR expectations, both Morgan Stanley and Truist significantly reduced their target stock prices.
In the performance outlook section, the company expects the growth of transcatheter aortic valve replacement (TAVR) products in 2024 to be lower than previously announced expectations. Subsequently, the company's stock price suffered a heavy blow as pessimistic expectations led investors to sell off the stock.
Peijia Medical-B (09996.HK): Edwards Lifesciences plans to acquire JenaValve through a merger.
On July 26th, Guolong News reported that Peijia Medical-B (09996.HK) announced that its wholly-owned subsidiary, Marvel Finder Limited, holds about 1.91% (calculated on a fully diluted and conversion basis) of JenaValve's minority equity, which is recorded in the company's comprehensive financial statements as a financial asset measured at fair value. JenaValve has notified the company that on July 23, 2024 (US time), Edwards Lifesciences (through its wholly-owned subsidiary) agreed to acquire the shares.
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