FTC Sues to Halt Edwards Lifesciences’ $945 Million JenaValve Deal

The U.S. Federal Trade Commission filed a lawsuit on Wednesday in the District of Columbia to block Edwards Lifesciences Corp.’s planned $945 million purchase of JenaValve Technology Inc., arguing the deal would give Edwards control of the only two companies running U.S. clinical trials for transcatheter aortic valve replacement devices that treat aortic regurgitation. In its complaint, approved by a 3-0 Commission vote, the agency said Edwards already acquired JC Medical in 2024 and now seeks to fold in JenaValve, eliminating head-to-head competition that has driven development of less-invasive heart-valve implants. The FTC warned that the combination could slow innovation, reduce product quality and raise prices for patients suffering from the potentially fatal condition, which affects more than eight million Americans. The FTC is seeking a temporary restraining order and preliminary injunction to halt the transaction pending an administrative trial. Edwards, which has expanded aggressively in structural heart devices, did not immediately comment on the lawsuit.