IRVINE, CA--(Marketwire - 10/21/09) - Edwards Lifesciences Corporation, a world leader in products and technologies to treat advanced cardiovascular disease, announced today that its Board of Directors approved a $15 million contribution to its charitable fund, The Edwards Lifesciences Fund.
“We are fortunate that our continued strong operating performance and cash flow have enabled us to continue helping worthy organizations make a difference, particularly in light of the current economy and the challenging realities many people are facing,” said Michael A. Mussallem, Edwards Lifesciences’ chairman and CEO. “We are proud that this contribution can have a positive impact in the global communities we serve for years to come.”
The company established The Edwards Lifesciences Fund in 2004 to support advancements in knowledge and improvements in quality of life, focusing primarily upon cardiovascular disease and the communities where Edwards’ employees live and work. The fund has contributed to programs such as basic needs support, cardiac medical missions in underserved regions, and cardiovascular disease education and screening.
Recently, The Edwards Lifesciences Fund supported Orange County United Way with a $50,000 contribution to its “Bridge the Gap” emergency relief campaign providing basic needs items, including food, shelter, medical care and job training for underprivileged Orange County residents. “The Edwards Lifesciences Fund stepped up its giving when our community needed it the most, providing vital services to those struggling from a down-turning economy and we are sincerely thankful for this partnership,” said Maria Chavez Wilcox, President and CEO of Orange County United Way.
The company’s $15 million contribution to the fund will result in an after-tax charge of approximately $9 million that will be recorded in the third quarter of 2009.
The Edwards Lifesciences Fund is a donor-advised fund managed by the Vanguard Charitable Endowment Program. In November, the company will announce the recipients of its 2009 grant cycle.
About Edwards Lifesciences
Edwards Lifesciences is the global leader in the science of heart valves and hemodynamic monitoring, with more than five decades of experience in partnering with clinicians to develop life-saving innovations. Headquartered in Irvine, Calif., Edwards treats advanced cardiovascular disease with its market-leading heart valve therapies, and critical care and vascular technologies, which are sold in approximately 100 countries. The company’s global brands include Carpentier-Edwards, Cosgrove-Edwards, Edwards SAPIEN, FloTrac, Fogarty, PERIMOUNT Magna and Swan-Ganz. Additional company information can be found at http://www.edwards.com.
Edwards is a trademark of Edwards Lifesciences Corporation. Edwards Lifesciences, the stylized E logo, Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, PERIMOUNT Magna and Swan-Ganz are trademarks of Edwards Lifesciences Corporation and are registered in the United States Patent and Trademark Office. Contact:
Media Contact: Amanda Fowler 949-250-5070 Investor Contact: David K. Erickson 949-250-6826
