Edwards Lifesciences warns against below-market mini-tender offer - MassDevice

Edwards Lifesciences

EW) yesterday advised its investors against joining in an unsolicited “mini-tender offer” by TRC Capital Corporation, which is looking to purchase approximately 1 million shares of the company’s stock.

The Irvine, Calif.-based company said it does not endorse the offering and recommended that its stockholders “reject the offer” either by doing nothing in response or by withdrawing their shares from the offer.

“Edwards is not affiliated or associated in any way with TRC Capital, its mini-tender offer or the offer documentation. The Securities and Exchange Commission has cautioned investors about these offers,” the company wrote in a press release.

TRC Capital is offering a fixed $162.38 per share, which is significantly lower than the current market price of $170.13 as of 10:06 a.m. EDT

“Edwards urges stockholders to obtain current market quotations for their shares, review the conditions to the offer or consult with their broker or financial adviser before any decision regarding the offer is considered by our stockholders,” Edwards wrote in a prepared statement.

Last month, Edwards’ board of directors ized an additional $1 billion for stock repurchases, according to an SEC filing.

RSS From Medical Design & Outsourcing

  • Webinar: Medical Power Backup – When is it essential?
    Tuesday, June 9, 2020 2 p.m. eastern time / 11 a.m. pacific time     When it comes to medical devices, backup power is arguably more important than ever before as the COVID-19 pandemic stretches hospital resources to the breaking point. Our life sciences executive editor Chris Newmarker hosts experts from Astrodyne TDI as we explore… […]
  • Graham Engineering adds extrusion clamp
    Graham Engineering announced today that it has added a new extrusion clamp with electro-mechanical actuation to its American Kuhne product line. The AutoGrip power clamp is safer and simpler to operate than manual devices and provides more repeatable clamping forces, according to York, Pa.-based Graham Engineering. It is designed to reduce downtime in installations with… […]
  • Contec, Milliken boost production of disinfectant for COVID-19
    Contec announced today that it has contracted with Milliken & Company to help produce mass quantities of Contec’s Sporicidin brand disinfectant for infection control during the COVID-19 pandemic. Since 1978, Sporicidin brand disinfectant products have been used for infection and contamination control by hospitals, medical and dental offices, veterinary clinics and restoration professionals, according to… […]
  • Molex taps former Ecolab SVP to run its medical business, including Phillips-Medisize
    Paul Chaffin — most recently SVP of enterprise initiatives at Ecolab — has become SVP in charge of Molex’s Medical and Pharmaceutical Solutions division, including contract manufacturing giant Phillips-Medisize. Chaffin will report to Molex CEO Joe Nelligan and will be a member of the company’s Global Leadership Team. “Paul’s depth of healthcare, commercial and international… […]
  • Could COVID-19 be telehealth’s big moment?
    Frost & Sullivan announced today that recent analysis finds that the demand for telehealth technology is expected to rise amid the COVID-19 pandemic. The analysis, titled “Telehealth — A Technology-Based Weapon in the War Against the Coronavirus, 2020,” revealed that, as COVID-19 continues to disrupt the practice of medicine and the delivery of healthcare, the… […]
  • FDA to hold virtual town hall on 3D-printed nasal swabs
    The FDA is planning to hold a virtual town hall meeting from 1:00-2:00 p.m. ET on Friday, May 15, for researchers, clinical laboratories, and commercial manufacturers to discuss the production and use of 3D printed swabs during the COVID-19 public health emergency. The meeting is a collaboration between the FDA, the U.S. Department of Veterans… […]
  • Solar Atmospheres adds gas nitriding furnace
    Solar Atmospheres (Souderton Pa.) announced today that it has installed a new vacuum gas nitriding furnace — built by its sister company, Solar Manufacturing. The front-loading furnace incorporates the latest nitriding and recipe system from Solar Manufacturing. The automated controls meet AMS2759/10, Automated Gaseous Nitriding Controlled by Nitrogen Potential, in addition to the standard AMS2759/6,… […]
  • Nihon Kohden debuts COVID-19 patient triage kit
    Nihon Kohden today announced the launch of its NK-HealthProtect patient triage solution, a kit to help evaluate patients potentially suffering from COVID-19. The principal component of the kit is Nihon Kohden’s Life Scope SVM-7200 vital signs monitor, which allows healthcare practitioners to quickly and easily measure three vital signs key to COVID-19 screenings — temperature,… […]
  • New imaging tech allows visualization of nanoscale structures
    Since Robert Hooke’s first description of a cell in Micrographia 350 years ago, microscopy has played an important role in understanding the rules of life. However, the smallest resolvable feature, the resolution, is restricted by the wave nature of light. This century-old barrier has restricted understanding of cellular functions, interactions and dynamics, particularly at the… […]
  • May 2020 Issue: COVID-19 is here and medtech may never be the same
    COVID-19 is here: Medtech may never be the same These medical devices are getting ready to launch in 2020 How are alternative ventilators helping during the COVID-19 pandemic? Could refurbished ventilators be a secret weapon against COVID-19? Medtech contract manufacturers make it work during a pandemic A Lost Year? Let’s make 2020 matter The COVID-19… […]
  • Plastic Sample Kits touts its molded material sample kits
    A San Jose, Calif.–based outfit called Plastic Sample Kits is selling material-to-material comparisons of 20 different types of injection molding plastic. The 20 Material Base Kit is available now, and the 6 High-Performance Material Kit is coming in June, with pre-orders taken now. Co-founders Brian Eastman and Stefan McClelland — both mechanical engineers — plan… […]