Michael A. Mussallem Michael A. Mussallem
Chairman and CEOChairman and CEOEdwards LifesciencesEdwards Lifesciences
Leading the fight against advancedLeading the fight against advancedcardiovascular diseasecardiovascular disease
Edwards HistoryEdwards History
• Founded by Miles “Lowell” Edwards Founded by Miles “Lowell” Edwards in in 19581958
– Inventor and visionary, held 60+ patentsInventor and visionary, held 60+ patents
• Partnered with physicians to introduce Partnered with physicians to introduce breakthrough medical devices to the worldbreakthrough medical devices to the world
• Changes in ownershipChanges in ownership– 19581958 Edwards LaboratoriesEdwards Laboratories– 19681968 American Hospital Supply Corp.American Hospital Supply Corp.– 19841984 Baxter International Inc.Baxter International Inc.– 20002000 Edwards Lifesciences (NYSE:EW)Edwards Lifesciences (NYSE:EW)
Edwards Leads Growth IndustryEdwards Leads Growth Industry
• A leader in treating advanced A leader in treating advanced cardiovascular diseasecardiovascular disease
– Cardiovascular disease is Cardiovascular disease is progressive; leading killer and health progressive; leading killer and health expenseexpense
• 2007 Sales: $1.091 billion2007 Sales: $1.091 billion– 2008 projected sales ~ $1.2+ billion2008 projected sales ~ $1.2+ billion
• Broad global presenceBroad global presence– Products sold in ~100 countriesProducts sold in ~100 countries
– 5,600+ employees5,600+ employees
Infectious Disease
19%Cancer
12%
Chronic Respiratory
7%
All Other32%
Cardiovascular Disease
30%
World’s Leading Killers
Japan16%
R.O.W.11%
Europe28%
U.S.45% 2007 Sales
By Region
St.-Prex, SwitzerlandSt.-Prex, SwitzerlandHorw, SwitzerlandHorw, Switzerland
Añasco, Puerto RicoAñasco, Puerto Rico
IrvineIrvineSalt Lake CitySalt Lake City
Mississauga, CanadaMississauga, Canada
Haina, Dominican RepublicHaina, Dominican Republic
Sao Paulo, BrazilSao Paulo, Brazil
Mumbai, IndiaMumbai, India
Tokyo, JapanTokyo, Japan
Edwards’ Global OperationsEdwards’ Global Operations
SingaporeSingapore
40+ offices in 35 countries40+ offices in 35 countries
Edwards’ Robust Core BusinessesEdwards’ Robust Core Businesses
• 90% of sales from products with #1 90% of sales from products with #1 global positionsglobal positions
– Leader in heart valve therapyLeader in heart valve therapy
– Leader in hemodynamic monitoringLeader in hemodynamic monitoring
• High barriers to entry High barriers to entry
• Strong brand recognitionStrong brand recognition
• Trusted partner with leading Trusted partner with leading cliniciansclinicians
• Strong base from which Strong base from which innovation can flourishinnovation can flourish
Edwards
MDT
STJOther
2007 Global Heart Valve Sales*
*Estimated
Edwards
HSP
Other
2007 Global Hemodynamic Monitoring Sales*
$435 million
$1.1 billion
Edwards’ Global StrategyEdwards’ Global Strategy
• A patient focusA patient focus– Targeted populations are large and growingTargeted populations are large and growing– Cardiovascular disease remains the leading cause Cardiovascular disease remains the leading cause
of death and largest healthcare expenseof death and largest healthcare expense
• Sizable growth opportunitiesSizable growth opportunities– Targeting transformational technologies in Targeting transformational technologies in
Structural Heart Disease and Critical Care MedicineStructural Heart Disease and Critical Care Medicine
• A product leadership strategyA product leadership strategy– Clinical superiority remains our primary basis of Clinical superiority remains our primary basis of
differentiation and competitive advantagedifferentiation and competitive advantage
Global Challenges/OpportunitiesGlobal Challenges/Opportunities
• Business practice scrutinyBusiness practice scrutiny
• Reimbursement pressureReimbursement pressure
• Regulatory timelinesRegulatory timelines
• Global and local competitorsGlobal and local competitors
• Price transparencyPrice transparency
Helping Patients is Our Life’s Work, andHelping Patients is Our Life’s Work, and