Edwards Lifesciences CFO to Step Down Amid Strong Q3 Performance and Strategic Shifts

Edwards Lifesciences, a leader in heart valve technologies, announced significant leadership changes and positive financial results in its recent third-quarter earnings report. The company's CFO, Scott Ullem, is set to exit his role by mid-2026, marking the second high-profile departure in recent months.

Leadership Transition and Financial Performance

Scott Ullem, who has served as CFO since 2014, will transition to an advisory role after his successor is appointed. This follows the September departure of Larry Wood, the corporate vice president who played a crucial role in developing Edwards' transcatheter aortic valve replacement (TAVR) business.

Despite these leadership changes, Edwards reported strong financial results for Q3 2025:

• Total sales reached $1.55 billion, a 14.7% increase year over year
• TAVR sales grew by 12.4% to $1.15 billion
• Transcatheter Mitral and Tricuspid Technologies (TMTT) sales surged by 59.3% to $145.2 million

The company's performance, particularly in TAVR, exceeded expectations, prompting Edwards to raise its full-year sales and profit forecasts.

Strategic Focus on Valve Technologies

Edwards continues to emphasize its valve technologies, with CEO Bernard Zovighian highlighting recent clinical evidence and updated treatment guidelines in Europe as drivers for renewed physician focus on TAVR procedures.

The early introduction of the Sapien M3 valve for mitral regurgitation in Europe has shown promise, with U.S. approval expected by early 2026. Additionally, the company presented new study results at the Transcatheter Cardiovascular Therapeutics meeting, supporting both its TAVR and mitral and tricuspid valve treatments.

Regulatory Challenges and Future Outlook

Edwards faces a regulatory hurdle in its planned $945 million acquisition of JenaValve Technology. The Federal Trade Commission has challenged the deal, citing concerns about competition in the aortic regurgitation device market. The company continues to pursue approval and hopes for a favorable ruling by Q1 2026.

While Q3 results were strong, Zovighian cautioned against extrapolating the accelerated growth rate, stating, "We expect a good Q4, better than we originally thought, but I will not take the Q3 results as the new normal for TAVR."

As Edwards navigates these leadership transitions and strategic developments, the company remains focused on innovation and market expansion in cardiovascular technologies.