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Edwards Lifesciences' Board Approves New $250 Million Share Repurchase Program
Date:7/11/2008

IRVINE, Calif., July 11 /PRNewswire-FirstCall/ -- Edwards Lifesciences Corporation (NYSE: EW), a world leader in products and technologies to treat advanced cardiovascular disease, announced today that its board of directors has authorized a new share repurchase program to acquire up to $250 million of the company's outstanding common shares. Edwards recently completed a $250 million share repurchase program that its board of directors approved in September 2007.

"This new program reaffirms the confidence we have in our future growth prospects, and provides us with an opportunity to continue to increase shareholder value," said Michael A. Mussallem, Edwards Lifesciences' chairman and CEO.

Approximately 2.7 million shares were issued in June 2008 in response to the call for redemption by the company of its $150 million convertible debenture. During the second quarter of 2008, the company repurchased 2.3 million shares for approximately $135 million, partially offsetting the issuance of these shares.

During the first half of 2008, Edwards repurchased a total of 4.6 million shares for approximately $235 million. As of June 30, 2008, the company had approximately 56.2 million shares of common stock outstanding.

The company may repurchase shares in the open market or in privately negotiated transactions. The timing and extent of any repurchase will depend upon market conditions, corporate requirements and other factors.

About Edwards Lifesciences

Edwards Lifesciences is the global leader in the science of heart valves and hemodynamic monitoring. Headquartered in Irvine, Calif., Edwards treats advanced cardiovascular disease with its market-leading heart valve therapies, and critical care and vascular tec
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SOURCE Edwards Lifesciences Corporation
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