Edwards Lifesciences (NYSE:EW) doubled a heart valve manufacturing facility in Singapore, saying it needs the boost to keep up with growing demand for tissue heart valves.
The medtech giant has invested a reported S$95 million (~USD$76.1 million) in its operations in Singapore since 2005. The expansion will add more offices and laboratories, in addition to a large clean room and training facilities.
This facility is 1 of 3 EW facilities dedicated to heart valve manufacturing, with the others located at its global headquarters in Irvine, Calif., USA, and in Horw, Switzerland.
“Edwards’ Singapore facility was developed to meet the global demands for our technologically advanced tissue heart valve replacement products and to help us serve the needs of patients worldwide," corporate vice president of heart valve therapy Donald Bobo said in prepared remarks. "We are proud that our continued investment in Singapore will result in employment opportunities for hundreds of additional workers to join the 1,000 employees currently working for Edwards in the region."
That’s good news for the company, which just last week got the FDA’s highest-risk Class I label placed on its EMBOL-X Glide Protection Systems recall. The device helps capture debris such as tissue fragments and blood clots during cardiopulmonary bypass surgery. It was recalled after deformations were found that the FDA says may cause patient harm or death.
