IRVINE, CA -- (Marketwire) -- 10/21/09 -- Edwards Lifesciences Corporation (NYSE: EW), 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.
