Edwards Lifesciences Realigns Its Japan Business

Edwards Lifesciences is realigning its business in Japan as part of the company's continued efforts to focus on its core cardiovascular businesses as it transforms into a faster-growing, more profitable company.

The realignment includes selling the company's cardiopulmonary products business in Japan to Terumo for total consideration of between $10 million and $20 million based on Edwards achieving certain milestones. Edwards also is exiting its pacemaker distribution business in Japan and restructuring its Japanese operations.

The transactions will result in the transfer or elimination of approximately 60 full-time positions, resulting in a special charge in the first quarter of 2005 of between $6 million and $9 million. Further details were not disclosed.