Edwards suffers loss of long-standing TAVR head, Larry Wood
Edwards Lifesciences, a leading medical device company, has announced a significant leadership transition with the departure of Larry Wood, the longtime head of the transcatheter aortic valve replacement (TAVR) business. Despite this change, the company remains optimistic about its TAVR market performance and growth outlook.
Wood is leaving Edwards to become the CEO of Procept BioRobotics. His position will be filled by Dan Lippis, a 15-year company veteran, who has been appointed as the new leader of the TAVR business. Edwards remains confident in its future due to its established technologies, extensive clinical data, and strong commercial infrastructure.
The company's confidence is justified. Edwards has recently raised its full-year 2025 sales growth outlook to 9-10%, driven by robust TAVR sales that have beaten expectations. This renewed strength in TAVR sales has prompted Edwards to revise its sales forecast upward from the previous range of 8-10%.
The second quarter saw a nearly 12% increase in Edwards' sales, largely due to an accelerated adoption of TAVR procedures following favorable clinical evidence from its Early TAVR study. This study showed better outcomes even in asymptomatic patients with severe aortic stenosis.
Looking ahead, the TAVR market is expected to continue expanding due to increasing clinical adoption supported by accumulating positive clinical data, expanding indications, and the aging population with aortic stenosis. Edwards' ability to innovate and commercialize within this space, coupled with strong leadership continuity, bodes well for sustained growth in the TAVR arena.
The growth of Edwards' mitral and tricuspid business is also expected to continue. The smaller but fast-growing mitral and tricuspid business is being driven by the Evoque tricuspid valve replacement and Pascal valve repair devices. Edwards has also gained approval in Europe for the use of the Sapien 3 TAVR platform in asymptomatic patients, and the U.S. approval of the Sapien M3 transcatheter mitral valve replacement system is expected in the first half of 2026.
The company has also received Europe's CE mark for the Sapien M3 transcatheter mitral valve replacement system, and pivotal trial results for the Sapien M3 are expected to be presented at the Transcatheter Cardiovascular Therapeutics conference later this year.
In addition, Boston Scientific's exit from the TAVR market in Europe contributed modestly to Edwards' sales in the quarter. The sales increase was driven by TAVR sales that exceeded expectations.
In summary, while Larry Wood's departure is notable, Edwards Lifesciences is maintaining a strong TAVR market position with optimistic sales forecasts and has implemented a capable leadership transition to sustain future growth in a market that continues to expand. Edwards' Lifesciences Corporation's corporate vice president of TAVR, Larry Wood, will join Procept BioRobotics as CEO starting September 2. Dan Lippis, an Edwards veteran, will replace Larry Wood as head of TAVR. Edwards Lifesciences Corporation now expects adjusted earnings per share to be at the high end of a range of $2.40 to $2.50.
- With Dan Lippis taking over as the new leader, Edwards Lifesciences will leverage AI and medtech advancements in its transcatheter aortic valve replacement (TAVR) business, aiming to maintain its market leadership.
- To cater to growing patient demand and further expand its TAVR market share, Edwards will capitalize on growing clinical data and positive news in the field of medical-conditions related to aortic stenosis, bolstering its health-and-wellness initiatives.
- In the realm of robotics, Procept BioRobotics, Led by former Edwards TAVR corporate vice president Larry Wood, will focus on developing innovative devices to enhance surgical outcomes and patient care across various medical-conditions.
- As part of their efforts to drive earnings growth, Edwards Lifesciences is actively exploring collaboration opportunities with science and research institutions, seeking to develop new TAVR devices and strategies that align with the company's mission of improving patient lives.
- Recognizing the growing need for TAVR procedures in the aging population, Edwards has positioned itself as a leader in the growing TAVR market analytics, taking advantage of industry trends to expand its mitral and tricuspid business with the Evoque tricuspid valve replacement and Pascal valve repair devices, alongside new and improved TAVR platforms like the Sapien 3 and Sapien M3.
