Edwards Lifesciences, a leading U.S. medical device company, has reportedly reached an agreement to sell its intensive care unit (ICU) business to fellow U.S. firm BD for USD 4.2 billion. This strategic move is accompanied by a global restructuring that will result in layoffs impacting approximately 3% of the company’s workforce, equivalent to around 540 employees, as disclosed by Edwards’ Chief Executive Bernard Zovighian.
Initially, Edwards Life Sciences had been planning to spin off its ICU business into a new, independently operated entity by the end of 2024. However, the company shifted gears in June of this year, deciding to proceed with an outright sale. Upon the transaction’s completion, approximately 4,500 employees from the ICU business unit, which accounts for 20% of Edwards’ workforce, will transition to BD. Zovighian has stated that all potentially affected employees have been notified, with some potentially remaining in their roles temporarily to ensure a smooth business transition and with the opportunity to explore other positions within the company. – Flcube.com
