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Edwards Lifesciences acquires medical technology company for $100M

Edwards Lifesciences Corp. acquired privately held medical technology company Harpoon Medical, Inc. for $100 million in cash on Dec. 1.

As part of the deal, there is the potential for up to $150 million in payments if certain goals are met over the next 10 years.

Harpoon Medical makes a device intended to treat mitral valve disease during a minimally invasive procedure while the heart is still beating. That could enable faster recovery and a lower risk of complications, its inventor, James Gammie, said. The device is experimental and not yet available for commercial use.

Edwards Lifesciences had an exclusive option to acquire Harpoon Medical under a structured upfront investment it made in 2015.

Gammie, chairman of Harpoon Medical's scientific advisory board, had an equity interest in the company. Gammie will serve as a consultant to Edwards Lifesciences.