Edwards Lifesciences Corp Q2 2023 Earnings Call Summary

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

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Great. Congrats on a nice quarter. Maybe to start, global TAVR growth around 10%, a little weak in Japan. Where do you think we are in the recovery process in terms of stabilizing the systems, stabilizing time lines and staffing in the system? And when do you think we'll get to a new normal in TAVR procedures and diagnosis and treatment? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 26, 2023 / 9:00PM, EW.N - Q2 2023 Edwards Lifesciences Corp Earnings Call

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Great. And maybe just kind of a similar question. TMTT, you beat in the quarter, that seems like it was even a bit more impaired over the past few years than the whole TAVR complex. Maybe just talk about mitral and tricuspid, particularly the launch of PASCAL in the U.S., how you think adoption is going versus plan? How you're seeing the competitive situation play out? And just your thoughts on TMTT in general relative to TAVR normalization?

Question: Danielle Joy Antalffy - UBS Investment Bank, Research Division - Analyst : Bernard or maybe, Larry, just on TAVR, 2 questions there. Number one, one of the things everyone's sort of trying to figure out as we move through Q2, is it impacted backlog. I know the high acuity nature of the TAVR procedure are likely not much backlog, and I know you did benefit marginally in Q1. Just curious if you think you saw any of that work down in Q2? That's the first question. Second question is just over the last few quarters, you gave some color on high volume versus low-volume centers driving a lot of the growth. Just curious if you could give some color there, whether this is really broad-based across low and high-volume centers? Larry L. Wood - Edwards Lifesciences Corporation - Corporate VP and Group President of TAVR & Surgical Structural Heart Yes. Thanks, Danielle. Yes, we think as the front end of the funnel starts to fill back up again with referrals and that, I think there is a possibility that we are actually seeing a little bit of a backlog growth as we talk about the last mile still being probably the part that we see the most pressure on staffing. I wouldn't be able to quantify that, and it's probably just sort of more of a directional thing. But the fact that we've seen the growth in TAVR for the first couple of quarters of this year, and we've been back into double digits, and it's not like our centers are out beating the bushes for patients, we're pretty pleased with our patient flow right now. So I think that that's obviously really positive. I think in terms of large centers, small centers, we saw a dynamic throughout COVID that when COVID would -- with sort of the way it would come through that people -- we tend to see the smaller centers growing faster indicating people maybe stayed a little bit more local. When COVID tends to go away, then people tend to go back to the centers, the large centers of excellence and they're willing to travel a little bit more. So I think we saw a little bit more growth in the large centers in this past quarter than we saw in the small centers, but that's something that has varied a lot quarter-by-quarter. But this last quarter would have been more in the large centers than the small ones.