Transcript Slide 1
Michael A. Mussallem Chairman and CEO Edwards Lifesciences Leading the fight against advanced cardiovascular disease Edwards History • Founded by Miles “Lowell” Edwards in 1958 – Inventor and visionary, held 60+ patents • Partnered with physicians to introduce breakthrough medical devices to the world • Changes in ownership – – – – 1958 1968 1984 2000 Edwards Laboratories American Hospital Supply Corp. Baxter International Inc. Edwards Lifesciences (NYSE:EW) Edwards Leads Growth Industry • A leader in treating advanced cardiovascular disease – Cardiovascular disease is progressive; leading killer and health expense Cardiovascular Disease 30% All Other 32% World’s Leading Killers Chronic Respiratory 7% Infectious Disease 19% Cancer 12% • 2007 Sales: $1.091 billion – 2008 projected sales ~ $1.2+ billion • Broad global presence – Products sold in ~100 countries – 5,600+ employees Europe 28% U.S. 45% 2007 Sales By Region R.O.W. 11% Japan 16% Edwards’ Global Operations St.-Prex, Switzerland Horw, Switzerland Mississauga, Canada Tokyo, Japan Salt Lake City Irvine Haina, Dominican Republic Añasco, Puerto Rico Sao Paulo, Brazil 40+ offices in 35 countries Mumbai, India Singapore Edwards’ Robust Core Businesses • 90% of sales from products with #1 global positions 2007 Global Heart Valve Sales* Edwards – Leader in heart valve therapy MDT $1.1 billion – Leader in hemodynamic monitoring • High barriers to entry Other STJ • Strong brand recognition • Trusted partner with leading clinicians • Strong base from which innovation can flourish *Estimated 2007 Global Hemodynamic Monitoring Sales* HSP Edwards $435 million Other Edwards’ Global Strategy • A patient focus – Targeted populations are large and growing – Cardiovascular disease remains the leading cause of death and largest healthcare expense • Sizable growth opportunities – Targeting transformational technologies in Structural Heart Disease and Critical Care Medicine • A product leadership strategy – Clinical superiority remains our primary basis of differentiation and competitive advantage Global Challenges/Opportunities • • • • • Business practice scrutiny Reimbursement pressure Regulatory timelines Global and local competitors Price transparency Helping Patients is Our Life’s Work, and