Edwards Lifesciences Corp. said it invested $35 million to gain an exclusive right to buy privately held Corvia Medical Inc., which makes implants to treat heart failure.
Tewksbury, Mass.-based Corvia's InterAtrial Shunt Device is approved in the European Union to treat heart failure with preserved or mildly reduced ejection fraction.
The device is undergoing clinical trials in the U.S. to seek approval from the U.S. Food and Drug Administration.
Irvine, Calif.-based Edwards Lifesciences also acquired certain assets of Mitralign Inc. including intellectual property and associated clinical and regulatory experience.
Tewksbury, Mass.-based Mitralign makes devices to treat functional mitral and tricuspid regurgitation, which are diseases resulting from dysfunctional valves within the heart.
Edwards Lifesciences, which is focused on making medical devices for heart diseases, did not disclose additional terms of the transactions.
The company added that the transactions are not expected to impact its 2019 financial guidance.