Edwards Lifesciences (EW) TD Cowen 46th Annual Health Care Conference summary

Leadership and succession planning

• Ongoing external search for a new CFO, with a smooth transition planned once selected.

• Recent executive transitions highlight a deep leadership bench and internal promotions.

• Positive outlook on the team’s ability to maintain momentum through leadership changes.

TAVR franchise performance and market dynamics

• Renewed focus on TAVR in the US, with increased attention from operators, physicians, and patients.

• Recent clinical data, including 10-year and 7-year durability results, reinforce SAPIEN platform’s safety and efficacy.

• Continued investment in expanding SAPIEN 3 Ultra RESILIA globally, with next-gen products in development.

• Guidance for TAVR growth at 6%-8% for the year, with focus on expanding patient access rather than just market share.

Asymptomatic patient opportunity and regulatory landscape

• EARLY TAVR trial data shifted guidelines, supporting earlier intervention regardless of symptoms.

• FDA label expansion for asymptomatic patients in 2025, with European guidelines also evolving.

• Awaiting CMS national coverage decision (NCD) to enable broader US adoption for asymptomatic patients.

• Increased diagnostic activity (echocardiograms, stress tests) suggests growing awareness and referrals.