Edwards Lifesciences to Divest U.S. Perfusion Services For $45 Million to Fresenius Medical Care

Edwards Lifesciences Corporation (NYSE: EW), a global leader in products and
technologies to treat advanced cardiovascular disease, today announced that it
has entered into a definitive agreement to sell its U.S. perfusion services
subsidiary to Fresenius Medical Care AG (NYSE: FMS, FMS_p; Frankfurt Stock
Exchange: FME, FME3) for approximately $45 million in cash.

Under terms of the agreement, an affiliate of Fresenius Medical Care will
acquire Edwards Lifesciences Cardiovascular Resources Inc. (CRI), Edwards’ San
Diego-based U.S. perfusion services subsidiary. CRI is the premier provider
of contract perfusion services in the United States, serving a diverse group
of nearly 500 private, public and government hospitals. CRI employs
approximately 800 people, including clinical perfusionists and technicians who
perform more than 110,000 perfusion, autotransfusion and other blood-related
procedures per year. The transaction is expected to close at the end of June.

“Edwards Lifesciences’ strategy is to focus on products and technologies
to treat advanced cardiovascular disease,” said Michael A. Mussallem, Edwards’
chairman and CEO. “With the divestiture in August 2000 of our Bentley line of
perfusion products, maintaining a U.S. perfusion services presence is no
longer consistent with our strategy or core capabilities. Fresenius Medical
Care is ideally positioned to best capitalize on the strengths of CRI, and
this transaction represents an excellent opportunity and strategic fit for CRI
and its people. As part of a much broader healthcare services company, CRI
will be better positioned to reach its full potential — further benefiting
patients and customers.”
Mussallem added: “I’m very pleased with the leading global franchises
that Edwards Lifesciences will have going forward. This transaction enables
us to increase our focus on these core franchises and on targeted investments
aimed at applying technology to unmet clinical needs.”

Fresenius Medical Care, headquartered in Bad Homburg, Germany, is a
leading global provider of renal dialysis services. Fresenius entered the
U.S. perfusion services business in January 2001 with the acquisition of
Everest Healthcare Services Corporation and subsequently created its
Extracorporeal Alliance division, which focuses on perfusion, apheresis,
autotransfusion, acute dialysis and blood product collection services. With
the acquisition of CRI, Fresenius Medical Care Extracorporeal Alliance will
significantly enhance its ability to provide extracorporeal blood services
nationwide.