Baxter Unit to Be Named for Heart-Valve Co-Creator

The Irvine cardiovascular division of Baxter International Inc. will be called Edwards Lifesciences Corp. when it is spun off in midyear, Baxter said Friday. The new firm’s stock will be traded on the New York Stock Exchange, pending governmental approvals. As yet, there is no ticker symbol. The Edwards name pays homage to Miles “Lowell” Edwards, an entrepreneur credited with co-inventing the first commercially available heart valve. His medical devices company eventually was acquired by Baxter. The Edwards name was suggested by two employees as part of a contest. The new entity will have 5,000 employees worldwide, including 1,400 in Irvine. As a division of Baxter, it has nearly $1 billion in annual sales.