Edwards Lifesciences (NYSE:EW) today affirmed its outlook for the rest of this year and revealed its guidance for 2015, also saying it increased its stake in CardioKinetix and lured a top executive away from rival Medtronic (NYSE:MDT).
Irvine, Calif.-based Edwards said it still expects to report adjusted earnings per share of of $3.33 to $3.39 on sales of of $3.33 to $3.39 for 2014. Adjusted EPS next year are expected to be $3.90 to $4.10 on sales of $2.3 billion to $2.5 billion, the company said.
Edwards also said it boosted its investment in CardioKinetix, which is developing a cardiac implant called Parachute that’s designed to restore damage to the left ventricle after a heart attack. The investment includes a buyout option and additional milestones pegged to regulatory and reimbursement wins, according to a press release.
That’s not all – Edwards also said it acquired "intellectual property that broadens its transcatheter mitral valve development efforts," but was coy about the details, and revealed the hiring of longtime Medtronic executive Katie Szyman.
Szyman, the former president of Medtronic’s diabetes division who now leads its global channel management strategy, is slated to join Edwards at the start of 2015 as vice president of critical care, according to the release.
"We are very pleased to welcome Katie to Edwards, and are confident that her passion for helping patients and her extensive leadership experience will be valuable to our critical care organization," chairman & CEO Michael Mussallem said in prepared remarks.
Mussallem also said that Edwards plans to continue to invest 15% to 16% of sales in its R&D program.
"We expect 2015 to be another year of attractive organic sales growth for Edwards Lifesciences as we continue executing our focused innovation strategy to provide breakthrough therapies for patients in need," Mussallem said in a statement. "Sales of our market-leading technologies, together with greater operating leverage, position us for strong financial performance."