2009 health care forecast conference mike mussallem chairman and ceo, edwards lifesciences chairman...
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2009 Health Care Forecast Conference
Mike MussallemChairman and CEO, Edwards Lifesciences
Chairman of the Board, AdvaMed
2009 Health Care Forecast Conference
Mike MussallemChairman and CEO, Edwards Lifesciences
Chairman of the Board, AdvaMed
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Edwards LifesciencesEdwards Lifesciences
Founded by Miles “Lowell” Edwards in 1958 Inventor and visionary, held 60+ patents
Partnered with physicians to introduce breakthrough medical devices to the world Albert Starr, Jeremy Swan, William Ganz, Thomas Fogarty,
Alain Carpentier, Delos Cosgrove, Alain Cribier
Lineage 1958 Edwards Laboratories 1968 American Hospital Supply Corp. 1984 Baxter International Inc. 2000 Edwards Lifesciences (NYSE:EW)
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Cardiac Surgery Systems Cardiac Surgery Systems
Heart Valve TherapyHeart Valve Therapy
VascularVascular
Sales by Sales by BusinessBusiness
Critical CareCritical Care
Edwards’ BusinessesEdwards’ Businesses
47%47%
36%36%
8%8%5%5%
Hemodynamic MonitoringSepsis Management
Access Products
Minimally-Invasive InstrumentsCannulae
Embolic Protection Clot Management Systems
Surgical Accessories
Surgical Replacement & RepairTranscatheter Replacement
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Advanced Medical Technology Association (AdvaMed)Advanced Medical Technology Association (AdvaMed)
World’s largest medical technology association 1,600+ member companies and subsidiaries
Members produce 90% of sales in domestic market, 50% of sales in global market
70%+ of member companies have <200 employees
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Medical Device Industry – Different Than Other Health SectorsMedical Device Industry – Different Than Other Health Sectors
Companies rely on physician experience, feedback to develop better treatments
Device effectiveness depends on physician skill - product training is critical
Physician contribution/feedback plays a vital role in continued innovation
Collaboration benefits patients
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Industry ChallengesIndustry Challenges
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Global economic climate Global economic climate
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ReimbursementReimbursement
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Patient and patent lawsuitsPatient and patent lawsuits
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New leadership – Congress, HHS, FDA, etc.
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Comparative effectiveness research
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Greater transparency of clinician / industry
relationships
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It’s the PatientIt’s the Patient
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Helping Patients is Our Life’s Work, andHelping Patients is Our Life’s Work, and