Edwards Lifesciences Corp.
EW.US | Manufacture of medical and dental instruments and supplies
Edwards Lifesciences Corporation is a global leader in patient-focused medical innovations for structural heart disease and critical care and surgical monitoring. The company's technologies are centered around heart valve disease and repair, transcatheter heart valves, surgical heart valve therapy, ...Show More
Better Health for All
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Edwards Lifesciences' core business is dedicated to patient-focused medical innovations for structural heart disease and critical care, with products like the SAPIEN 3 Ultra RESILIA offering minimally invasive alternatives that enhance clinical outcomes, reduce recovery times, and improve access to care.
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The company's portfolio delivers substantial health benefits, with no evidence of negative health impacts. Edwards Lifesciences launched a $100 million social impact investment fund focusing on advancing racial equity and promoting equitable access to healthcare services for underserved communities.
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Its 'Every Heartbeat Matters' initiative has impacted over 1.7 million people by 2020 through education, screening, and treatment, with a goal to benefit an additional 2.5 million by 2025.
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The company also supports patient organizations globally, providing advocacy and resources.
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Fair Money & Economic Opportunity
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Edwards Lifesciences, a medical device manufacturer, does not directly offer consumer financial services or products. Consequently, KPIs related to consumer lending, pricing, fees, data accessibility, fair lending compliance, wealth-building outcomes, financial literacy, debt burden, geographic inclusion, and product simplicity are not applicable. In 2021, the company established a $100 million Social Impact Investment Fund to advance racial equity through economic development, providing debt financing for minority-owned businesses and healthcare projects, and investing in Minority Depository Institutions and Hope Credit Union.
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This fund aims to create job creation, wealth-building, and new opportunities in underserved areas.
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However, the specific share of a loan/insurance book or the percentage of annual pre-tax profit reinvested cannot be determined from the provided information, leading to the omission of the inclusion_initiatives and profit_reinvestment KPIs. The Edwards Lifesciences Foundation also supports an Employee Matching Gift Program, matching employee donations up to $5,000 annually to eligible U.S. non-profit organizations for economic empowerment.
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The Every Heartbeat Matters initiative, aiming to educate, screen, and treat over 2.5 million underserved patients by 2025, indirectly enhances economic opportunity by improving health outcomes.
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Fair Pay & Worker Respect
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Edwards Lifesciences Corp has been recognized by Forbes as one of the World's Top Female-Friendly Companies for two consecutive years, highlighting competitive pay, career advancement opportunities, and flexible work settlements.
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The company offers a defined contribution plan for U.S. employees, with matching contributions totaling $51.0 million in 2023, an increase from $45.1 million in 2022.
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However, the company has faced recent legal challenges regarding employee treatment, specifically concerning religious discrimination and COVID-19 vaccine policies.
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Fair Trade & Ethical Sourcing
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Edwards Lifesciences demonstrates a commitment to ethical sourcing and supply chain transparency, particularly concerning conflict minerals (tantalum, tin, tungsten, and gold). For 2023, the company engaged 48 suppliers, achieving a 100% response rate on 3TG sourcing.
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All 68 identified smelters for these minerals are RMAP conformant, ensuring conflict-free sourcing.
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The company's management systems align with OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.
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They maintain a public Conflict Minerals Policy and a Responsible Supply Chain Policy.
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A cross-functional team and executive leadership oversee the 3TG compliance program, with findings reported to the Audit Committee.
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In 2023, Edwards Lifesciences was awarded the Transparency Badge by the Healthcare Industry Resilience Collaborative (HIRC) for its commitment to supply chain transparency and resilience.
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Honest & Fair Business
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Edwards Lifesciences is currently subject to multiple significant investigations and complaints. Law firms are investigating potential violations of federal securities laws.
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In May 2024, an antitrust complaint was filed against the company with the European Commission, which EU regulators are investigating.
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Additionally, the company initiated an internal review in 2021 into potential Foreign Corrupt Practices Act (FCPA) violations in Japan and other markets, voluntarily notifying the U.S. SEC and DOJ, with this investigation ongoing.
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Despite these issues, Edwards Lifesciences has a comprehensive Global Integrity Program, which includes a 24/7 confidential Integrity Helpline with strict prohibitions against retaliation.
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The company also adheres to industry codes of conduct and was recognized as one of the World's Most Ethical Companies by the Ethisphere Institute for the seventh consecutive year in 2023.
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Kind to Animals
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The company conducts animal testing for medical analysis, clinical research, and preclinical trials to ensure product safety and efficacy.
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This testing is described as necessary to meet medical and regulatory standards, with preclinical trials showing an 81% reduction in tissue calcification in animal studies.
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The company also uses bovine tissue in its medical devices, sourcing it from US and Australian suppliers.
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No War, No Weapons
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Edwards Lifesciences Corp maintains a clear policy against involvement in arms production or military contracts, with its revenue derived entirely from medical device sales
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. The company does not engage in arms manufacturing and has no dual-use technologies related to military applications
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. In March 2024, it was awarded a $32,500 contract by Walter Reed National Military Medical Center for a transcatheter heart valve system, explicitly for healthcare purposes and not military technology
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. The company prohibits corporate funds from influencing federal and state elections
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. Its business model focuses exclusively on healthcare innovations, indirectly supporting peaceful values through health-focused philanthropic efforts, but it lacks active advocacy for peace or conflict resolution initiatives
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Planet-Friendly Business
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Edwards Lifesciences has set Science Based Targets initiative (SBTi) aligned goals to reduce Scope 1 and 2 emissions by 42% and Scope 3 emissions by 51.6% per USD of value added by 2030, consistent with a 1.5°C warming limit.
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As of 2024, the company achieved 39% renewable energy usage globally.
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It also maintains a 45% recycling rate of total waste.
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Respect for Cultures & Communities
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Edwards Lifesciences Corp's strategy includes unconscious bias training and non-discrimination clauses for employees
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, alongside robust employee engagement through the 'myVoice' survey
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. The Edwards Lifesciences Foundation supports general community and health-related causes
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, focusing on access to cardiovascular care for underserved patients and encouraging employee participation in community activities
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. However, the provided information offers limited specific details on initiatives concerning indigenous rights or cultural heritage, and no quantifiable data points directly align with the defined KPIs for this value.
Safe & Smart Tech
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Edwards Lifesciences is committed to adhering to stringent regulations like HIPAA and GDPR, ensuring robust data protection and patient privacy.
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The company's Consumer Health Data Privacy Policy details data collection, use, and sharing, stating data is shared only as needed or with explicit consent to protect consumer rights.
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This program aligns with robust privacy-by-design standards.
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The company engages external partners to conduct annual audits and tests of its IT infrastructure to proactively identify vulnerabilities.
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It conducts regular cybersecurity awareness and training campaigns for employees.
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Edwards Lifesciences emphasizes transparency in its AI algorithms and ethical AI usage, aligning with industry standards.
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Zero Waste & Sustainable Products
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Edwards Lifesciences achieved a 20% reduction in waste generation intensity in 2023.
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The company also integrates circular design principles by remanufacturing single-use devices, such as electrophysiology catheters, a practice that can reduce carbon emissions by up to 60% per use.
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