CardiAQ Acquired By Edwards Lifesciences For $400M

Irvine-based CardiAQ has agreed to be acquired by Edwards Lifesciences, in a deal worth up to $400M, the two companies said this morning. Edwards Lifesciences said it would pay $350M in cash plus up to $50M in earnout for CardiAQ, which was venture backed by Advent Venture Partners, OrbiMed Advisors and Versant Ventures. CardiAQ develops transcatheter mitral valve replacement systems, used for heart surgery. Edwards Lifesciences is also based in Irvine.