Edwards Lifesciences Corp at William Blair Growth Stock Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : And so maybe before we dive a little bit deeper, as you guys with the with the spinoff of Critical Care will now become more of a structural heart company at heart, no pun intended. So does, as you think about the balance sheet that expands now with this move, does it change any thoughts around where you might put investments and between those three business franchises?

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Okay. And you mentioned all four valves in the heart. So I'll just kind of double them within that as a category, do you see more of the investments that have the opportunity maybe on them mitral and tricuspid side, or any of the four that you have to call because of the aortic. I think a lot of people just assume it's a little further penetrate.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Maybe let's do one more kind of high-level question. And it's around the CEO change, which frankly, a lot of people know at this point that maybe for this audience, there was a feature, a CEO change a little bit over a year ago. From Mike Mussallem who's been there for many, many a year to now Bernard, you maybe walk us through why that change that happened.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Okay, great. So yes, maybe let's go back to TAVR. It's a significant portion of the sales today. As we think about the SAPIEN series of valves relative to some of the competitive valves, maybe you can walk us through a high level from a self-expandable versus a balloon expandable and why does that matter.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Okay. And then historically, TAVR been wonderful double-digit growth story at COVID may be disrupted that a little bit in terms of, unfortunately, patient mortality in patients moving through the funnel and so on. But yes, if we look at this year, your guidance is for 8% to 10% growth stronger in the back half than in the first half, even though you have some tougher comps. So maybe walk us through kind of that dynamic a bit of pre COVID, during COVID. And as we look out for guidance this year, what do you what are you assuming? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 04, 2024 / 5:00PM, EW.N - Edwards Lifesciences Corp at William Blair Growth Stock Conference

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Okay. So three in growth drivers mentioned. Next-generation products as [S3 UR] I'm just kind of call it simply the resilia product [S3 UR]. Two You've got the early TAVR data that's coming out of TCT, which will be for asymptomatic patients as well. And then you've got the progress trial, which is the one that you were mentioning on model. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 04, 2024 / 5:00PM, EW.N - Edwards Lifesciences Corp at William Blair Growth Stock Conference But maybe we break that all three of those down. So [S3 UR] with the thought process that at the lifetime of those, frankly better because of the lack of calcification. You did launch that with the price premium and maybe talk about how the market receptivity has been to that price premium on the market, both in Europe as well as the US?

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : So, people like it.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst :

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Okay. So then going to kind of the second pillar of growth, let's call it, which is the early TAVR data coming out of TCT later this year. And how should we think about the potential guideline changes that could stand on the back of that? And with some of the earlier data sets that we had seen was some [inaudible]. And so maybe before reimbursement comes on, you saw lower state come out and you suddenly saw some extra usage may be patients earlier and their care, is that some thing that you would be hear as well.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : And for the folks from the audience, I'm not sure you could size that has a population, maybe you can add some of that background as well. I think I am trying to play with Mike in the back. (multiple speaker)

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : asymptomatic.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Okay. That's helpful. And so I'm wondering one of the interesting part for me and MedTech and folks that have heard me talk before or on Monday that we had a presentation as well. Asymptomatic is one I think the future of healthcare in general. It's actually a pretty big component, I would say, as of the group, both of medical technology companies such as yourself. So just big picture form A., do you agree with a statement like that? And what kind of structural changes do you need in the marketplace to drive asymptomatic care because most patients, frankly, if you don't have symptoms, you're not going in for care anyway.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Okay. That's helpful. And then as we talk about progress, I know it's still two years away as we think about a readout in 2026 and maybe size that up for us as well. And then just from a high-level perspective, if you think about someone earlier in the disease state, why would they need transcatheter technology versus is doing a more surgical in case , is it age? What's the characteristics?

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : And do you have a sense even of those that are monitored someone may, in fact, be all that right.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : We've spent a lot of time on TAVR, which is the aortic valve. Obviously huge market, huge part of your revenues, but TMTT, the mitral and tricuspid areas kind of the next frontier, the great frontier, whatever you want to call it, maybe again, high level for us. Why is mitral and tricuspid more difficult valve to treat relative to aortic valve and so on.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : And on the surgical side. Sorry for the interruption.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Okay. If there are questions in the audience, feel free to ask them because I always trying to do that in last five minutes, just in case that we will have a broader breakout later. So the two most successful products, let's call it within TMTT for you guys have [Harbin], PASCAL as well as though can add. So walk us through why those products Can address the disease and better maybe than historical technologies have been able to.

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Yeah. I'd be remiss to not point out the fact that you guys raised guidance twice on the back of TMTT already just in the early quarters of launch, let's call it that. Can you give us a sense, especially with EVOQUE, maybe that's a new technology within this space? What are you hearing from clinicians? Can you give us a sense of what percent growth or sales that could be by year end ?

Question: Margaret Kaczor Andrew - William Blair & Company - Analyst : Perfect will really be sure your guidance time and we will have a breakout in the Adler room upstairs. Thanks, guys.