OR YEHUDA, Israel, November 28, 2016/PRNewswire/ -- Valtech Cardio, Ltd., (Valtech), an innovator in the field of device development for mitral and tricuspid valve repair and replacement, today announced agreement to be acquired by Edwards Lifesciences Corporation (Edwards). The acquisition will give Edwards access to the Cardioband TM Reconstruction System (Cardioband) for transcatheter repair of the mitral valve and tricuspid valve of the heart.
"We are pleased that Edwards, a global leader in patient focused medical innovations for structural heart disease, has elected to include in its growing portfolio of transcatheter based therapies, the Cardioband TM system for both mitral and tricuspid valve repair. We believe this will position Cardioband TM to achieve its full potential as a fundamental breakthrough in the way patients are treated for both mitral and tricuspid regurgitation" said Amir Gross, Founder and CEO of Valtech. "On behalf of the entire Valtech organization, I want to thank the many physicians who supported us over the past ten years in the development of the Cardioband TM platform." "None of our success with the Cardioband TM program could have been achieved without the passion and perseverance of the entire Valtech team. We are extremely proud of their accomplishments over the past ten years, and are very excited about the potential impact Cardioband TM will have on patient care in the years ahead," said Lawrence Best, Executive Chairman of Valtech. About Valtech's ProductsCardioband TM Mitral Reconstruction System Cardioband TM received CE Mark certification in September 2015 after demonstrating safety in a clinical trial among patients with functional mitral regurgitation. Cardioband TM permits physicians to repair the mitral valve in a first-line setting while preserving the option to perform future percutaneous or surgical valve repair and/or replacement. Cardioband TM combines a reconstruction implant, similar to surgical annuloplasty devices, with a transcatheter transseptal delivery system. Connection of the implant to the mitral annulus is sutureless, using specially designed anchors. Reshaping of the mitral annulus to eliminate FMR is done under physiological conditions and echocardiographic guidance for optimal results.