The FTC Goes All In on Head-To-Head Competition for Pipeline Medical Devices Merger Challenge

Lexology August 18, 2025
Katten Muchin Rosenman LLP

On August 6, the Federal Trade Commission (FTC) challenged Edwards Lifesciences Corp.’s proposed $945 million acquisition of JenaValve Technology, Inc. The deal would combine the two leading companies competing to develop transcatheter aortic valve replacement (TAVR) devices to treat aortic regurgitation (AR), a serious and often fatal heart condition. In August 2024, Edwards acquired JC Medical, Inc., whose J-Valve device is currently undergoing a pivotal clinical trial. At virtually the same time, Edwards entered into another agreement to acquire JenaValve, which has already published the results of a pivotal trial for its Trilogy TAVR device and is awaiting FDA approval. The FTC sued to block the second acquisition, which would bring the Trilogy and J-Valve under common ownership. Daniel Guarnera,...

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