Edwards Lifesciences

Transcription

1 Edwards Lifesciences Citi Critical lcare Carlyn D. Solomon Corporate Vice President, Critical Care and Vascular 1

2 Critical Care Portfolio Positioned for Growth Portfolio of solutions expected to extend leadership in a global industry estimated to grow 3-6% Enhanced Surgical Recovery represents an underpenetrated opportunity proven to improve patient outcomes and hospital metrics ClearSight noninvasive platform expands benefits of Enhanced Surgical Recovery to lower acuity patients Gold standard hemodynamic and vascular products benefit millions of patients per year globally GlucoClear has breakout potential by addressing the need for better glycemic control in the OR and ICU 82 We Have Shaped the Critical Care Portfolio by Acquiring Growth Platforms and Exiting Non-Strategic Products Licensed DexCom Continuous Glucose Technology $600 Acquired BMEYE Noninvasive Hemodynamic Monitoring Platform ritical Care Sales $ millions Cr Divested Hemofiltration Product Line ($45M sales) Exited Somanetics Japan Distribution ($5M sales) Phased Exit of Central Venous Access Product Line ($30M sales) $ E 2014E Excluding Vascular 83 2

3 Portfolio of Gold Standard Products and Practice Changing Growth Platforms Proven Market Leading Products Enhanced Surgical Recovery Glycemic Control Swan-Ganz Catheter TruWave Transducers ClearSight Noninvasive FloTrac Sensor Fogarty Catheter VAMP Blood Sampling GlucoClear PreSep Catheter VolumeView Set EV1000 Clinical Platform Best-in-class channel and educational programs to communicate the value of our solutions ClearSight is not available for commercial sale GlucoClear is not available for commercial sale in the U.S. 84 Enhanced Surgical Recovery (ESR) Standardizing Care to Reduce Post-Surgical Complications 3

4 Enhanced Surgical Recovery is Achieved Through Fluid Optimization Too Dry Too Wet Complications Low Goal Fluid Status Hi Fluid optimization has enhanced patient recovery. It has enabled patients to have a lower wound infection rate, lower pulmonary complication rate and lower kidney complications after surgery. Shermeen Vakharia Vice Chair for Quality and Patient Safety Department of Anesthesiology and Perioperative Care UC Irvine Medical Center 86 Edwards is the Leader in the Underpenetrated Enhanced Surgical Recovery Opportunity Large Opportunity Exists to Reduce Complications from Surgery Leading Minimally Invasive and Noninvasive Hemodynamic Technologies Unpenetrated $580M Penetrated $120M Edwards 80% Size of ESR Opportunity $150 Strong Sales Growth of FloTrac and ClearSight Disposables 2012 $ millions $100 $50 $0 '06 '07 '08 '09 '10 '11 '12 '13E '14E 87 4

5 Interest in Enhanced Surgical Recovery is Increasing With the Rise of the Economic Buyer Clinical and Economic Evidence Increasing 30+ Randomized Controlled Trials and 9 Meta-Analyses Demonstrated Benefit Reduced Surgical Reduced Reduced Length Complications Morbidity (2) of Stay (3) 2 56% 32% days Society Mindshare Increasing Official Recommendations are Building National Health Service (UK) Enhanced Recovery After Surgery Society (International) Savings per Monitored Patient Greater than $2,000 French Society of Anesthesia and Intensive Care The British Consensus Guidelines on Intravenous Fluid Therapy for Adult Surgical Patients (1) Hamilton et al. A systematic review and meta-analysis on the use of preemptive hemodynamic intervention to improve outcomes in moderate and high-risk surgery. Anesth Analg 2011 (2) Grocott et al. Perioperative increase in global blood flow to explicit defined goals and outcomes after surgery: a Cochrane systematic review. Br J Anaesth 2013 (3) Corcoran et al. Perioperative fluid management strategies in major surgery: a stratified meta-analysis. Anesth Analg Hear From Our Customers How Enhanced Surgical Recovery Improves Patients Lives x%-x% underlying growth 89 5

6 ClearSight Noninvasive Platform Gives Patients Without An Arterial Line Access to Enhanced Surgical Recovery Redesigned Finger Cuff and Wrist Unit Integration with EV1000 Monitor Advanced Technology Screens Improved Ease-of-Use Leverage Installed Base Improved Setup and Interpretation ClearSight is not available for commercial sale 90 Enhanced Surgical Recovery Standardization Expected to Increase Penetration Practice Guidelines ESR Program Implementation CLINICIAN SOCIETIES Working with clinician societies to establish guidelines CLINICAL and ECONOMIC EVIDENCE Collaborating with leading institutions to build on body of evidence PREPARE Review Current Identify Economic Build a Team Results Benefits CENTERS of EXCELLENCE Formalizing partnerships with leading institutions QUALITY IMPROVEMENT INITIATIVES Generating evidence that ESR Program is reproducible IMPLEMEN NT Edwards Products Protocol Measure 91 6

7 GlucoClear Continuous Glucose Monitoring GlucoClear Delivers Clarity to the Complexity of Monitoring Blood Glucose in the Critically Ill Patient 220 Type A aortic dissection St. Antonius Hospital, Nieuwegein, NL (Pilot Site) Patients not treated using GlucoClear system values GlucoClear provides frequent, accurate measures for a clear glycemic picture 160 What if you only saw this? mg/dl Instead of seeing this? How would that change your ability to react? Hours 17:16 22:04 2:52 12h 7:40 12:28 17:16 24h 22:04 2:52 36h 7:40 12:28 48h Continuous glucose monitoring in the ICU is an estimated $1.5B potential (1) GlucoClear is not available for commercial sale in the U.S. (1) Based on third party research 93 7

8 GlucoClear Has Continued to Make Progress on Key Milestones in 2013 Commence Full Launch Limited EU launch has confirmed need for better glycemic control Broad adoption will require experience and evidence Path to value creation Publish Outcome Study Seek FDA approval Demonstrate Glucose Control Publish Accuracy Study Gain Real World Experience Obtain CE Mark Complete Product Development 2014 Goals Completed 2013 GlucoClear is not available for commercial sale in the U.S Underlying Growth Impacted by China Inventory Adjustment and Access Exit Underlying Global Critical Care Sales Growth 2014 Outlook Tailwinds Annualize China inventory adjustment ~4% 2013E Excluding China and Access Impact 3% - 6% 2014E Enhanced Surgical Recovery Program drives noninvasive and minimally invasive growth Developed and Emerging market growth Headwinds Exit remaining Central Venous Access Decreased pulmonary artery catheter utilization 95 8

9 2014 Critical Care Key Milestones and Anticipated Timing Enhanced Surgical Recovery Enhanced FloTrac algorithm EU launch of ClearSight on EV1000 US launch of ClearSight on EV 1000 Timing Q2 Q2 Q3 GlucoClear Accuracy study published Begin enrollment in outcome study Q2 Q4 96 Critical Care Portfolio Positioned for Growth Portfolio of solutions expected to extend leadership in a global industry estimated to grow 3-6% Enhanced Surgical Recovery represents an underpenetrated opportunity proven to improve patient outcomes and hospital metrics ClearSight noninvasive platform expands benefits of Enhanced Surgical Recovery to lower acuity patients Gold standard hemodynamic and vascular products benefit millions of patients per year globally GlucoClear has breakout potential by addressing the need for better glycemic control in the OR and ICU 97 9