EW Stock Dips Following the Divestiture of Critical Care Wing

Edwards Lifesciences (EW) has completed the sale of its Critical Care product group to Becton, Dickinson and Company (BDX) for $4.2 billion in an all-cash transaction. The divestiture was first announced earlier in June 2024, replacing the previous plan for a tax-free spin-off of the segment. The company will use the net proceeds from the sale to fund strategic initiatives, including the previously announced acquisitions and share repurchases. Investors' sentiment was bearish immediately after the news rele ...