Digestive Care Specialists Now Offering Endoscopic Sleeve Gastroplasty (ESG) With Insurance Coverage in Germantown, Maryland.
ESG is an outpatient procedure that helps patients lose 18-20% of their weight without incisions or surgery.
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ESG is an advanced, non-surgical weight loss procedure that uses an endoscopic suturing device to reduce stomach volume, helping patients achieve 18-20% total body weight loss without incisions or removal of stomach tissue. The procedure is performed entirely through the mouth, resulting in faster recovery times, minimal downtime, and fewer risks compared to traditional bariatric surgeries.
'We are thrilled to provide this life-changing procedure to our patients struggling with obesity,' said Dr. Halim Charbel, MD, Gastroenterologist and Endoscopic Weight Loss Specialist at Digestive Care Specialists. 'ESG bridges the gap between medical weight loss and surgical options, giving patients an effective, minimally invasive tool to achieve their health goals.'
Insurance Coverage Now Available
Medicare now covers ESG for patients meeting bariatric surgery criteria (BMI ≥40, or BMI ≥35 with an obesity-related condition such as diabetes, hypertension, or sleep apnea).
Commercial insurance carriers may cover ESG on a case-by-case basis, depending on plan requirements, prior authorizations, and appeals submitted by the medical practice.
'We are excited that Medicare coverage is now in place for ESG, and we are working closely with commercial insurers to obtain approval for eligible patients,' Dr. Charbel added. 'Our team supports patients through every step – from insurance authorization to nutritional counseling and long-term follow-up.'
About Digestive Care Specialists
Digestive Care Specialists is a leading gastroenterology practice in Maryland, specializing in advanced endoscopic weight loss procedures, general gastroenterology, and digestive health optimization. The team is committed to providing compassionate, evidence-based care to help patients achieve better health and quality of life.
The ESG procedure is performed at Holy Cross Germantown Hospital.
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Selling, general and administrative (SG&A) expenses in the second quarter were $502 million, or 32.8% of sales compared to $448 million in the same period last year. The company expects increased SG&A spending in the second half of the year due to deferral of certain spending year-to-date as well as anticipated spending related to JenaValve. Research and development (R&D) expense was $276 million in the quarter or 18.0% of sales, compared to $272 million or 19.8% of sales in the same period last year. This increase in spending and decrease in R&D as a percentage of sales reflects Edwards' strategic prioritization of investments in its expanding structural heart portfolio. Operating profit margin in the second quarter of 26.8%, or 28.2% adjusted, benefitted from the company's better-than-expected sales performance and the deferral of certain spending to the second half of the year. Cash and cash equivalents were approximately $3 billion as of June 30, 2025. Total debt was approximately $600 million. Outlook Edwards is increasing its full-year total company sales growth guidance to 9% to 10% with sales of $5.9 billion to $6.1 billion. In addition, the company is increasing its underlying growth rate guidance for TAVR to 6% to 7%, driven by strong performance, and its sales guidance range for TAVR to $4.3 billion to $4.5 billion. Sales guidance for the company's TMTT and Surgical product groups remains unchanged. The company now expects full-year adjusted EPS to be at the high end of its original range of $2.40 to $2.50. For the third quarter, the company projects total sales to be between $1.46 and $1.54 billion and adjusted EPS of $0.54 to $0.60. About Edwards Lifesciences Edwards Lifesciences is the leading global structural heart innovation company, driven by a passion to improve patient lives. Through breakthrough technologies, world-class evidence and partnerships with clinicians and healthcare stakeholders, our employees are inspired by our patient-focused culture to deliver life-changing innovations to those who need them most. Discover more at and follow us on LinkedIn, Facebook, Instagram and YouTube. Conference Call and Webcast Information The company will be hosting a conference call today at 2:00 p.m. PT to discuss its second quarter results. To participate in the conference call, dial (877) 704-2848 or (201) 389-0893. The call will also be available live and archived on the 'Investor Relations' section of the Edwards website at or This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements can sometimes be identified by the use of words such as 'may,' 'will,' 'should,' 'anticipate,' 'believe,' 'plan,' 'project,' 'estimate,' 'forecast,' 'potential,' 'predict,' "early clinician feedback," 'expect,' 'intend,' 'guidance,' 'outlook,' 'optimistic,' 'aspire,' 'confident' or other forms of these words or similar expressions and include, but are not limited to, statements made by Mr. Zovighian and statements regarding the third quarter and fiscal year 2025 financial guidance, our expected growth and accelerating growth due to, among other things, asymptomatic TAVR approval; global adoption of, and differentiated features of, our devices; progress of the EVOQUE commercial launch; feedback on SAPIEN M3; our ability to deliver significant value to patients, healthcare ecosystem and shareholders; expansion of evidence, approvals, clinical trial outcomes and impacts; patient outcomes; the highlights in the Guidance and Outlook section and the information in the Outlook section. No inferences or assumptions should be made from statements of past performance, efforts, or results which may not be indicative of future performance or results. Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain, difficult to predict, and may be outside of the company's control. The company's forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement. If the company does update or correct one or more of these statements, investors and others should not conclude that the company will make additional updates or corrections. Edwards' guidance reflects the Company's current estimates of the impact from tariffs that are in effect or have been announced as of the time of this press release and assumes such tariffs remain in place for the remainder of 2025. Any modification to such tariffs, or any new tariffs, could have a material impact on the Company's future financial results and guidance. Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Factors that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements include risk and uncertainties associated with the risks detailed in the company's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2024, and its other filings with the SEC. These filings, along with important safety information about our products, may be found at Edwards, Edwards Lifesciences, the stylized E logo, EARLY TAVR, ENCIRCLE, EVOQUE, INSPIRIS, KONECT, MITRIS, PARTNER, PARTNER II, PARTNER 3, PASCAL, RESILIA, SAPIEN, SAPIEN M3, SAPIEN 3, SAPIEN 3 Ultra, TRISCEND, and TRISCEND II are trademarks of Edwards Lifesciences Corporation or its affiliates. All other trademarks are the property of their respective owners. (in millions, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net sales $ 1,532.2 $ 1,369.4 $ 2,944.9 $ 2,699.3 Cost of sales 344.4 275.5 646.0 562.4 Gross profit 1,187.8 1,093.9 2,298.9 2,136.9 Selling, general, and administrative expenses 502.0 447.5 967.7 875.9 Research and development expenses 276.2 271.8 530.8 528.5 Certain litigation expenses 15.5 8.1 26.4 17.0 Separation costs 4.2 — 8.4 — Other operating income (21.3 ) — (40.4 ) — Operating income, net 411.2 366.5 806.0 715.5 Interest income, net (37.4 ) (15.5 ) (73.9 ) (32.0 ) Loss on impairment 47.1 — 47.1 — Other non-operating expense (income), net 1.3 (2.0 ) (1.3 ) (7.7 ) Income from continuing operations before provision for income taxes 400.2 384.0 834.1 755.2 Provision for income taxes 64.3 20.0 134.6 66.3 Net income from continuing operations 335.9 364.0 $ 699.5 $ 688.9 (Loss) income from discontinued operations, net of tax (4.4 ) 1.0 (11.6 ) 27.1 Net income 331.5 365.0 687.9 716.0 Net loss attributable to noncontrolling interest (1.7 ) (1.3 ) (3.3 ) (2.2 ) Net income attributable to Edwards Lifesciences Corporation $ 333.2 $ 366.3 $ 691.2 $ 718.2 Earnings (loss) per share: Basic: Continuing operations $ 0.58 $ 0.61 $ 1.20 $ 1.15 Discontinued operations $ (0.01 ) $ — $ (0.02 ) $ 0.04 Basic earnings per share $ 0.57 $ 0.61 $ 1.18 $ 1.19 Diluted: Continuing operations $ 0.57 $ 0.61 $ 1.20 $ 1.15 Discontinued operations $ (0.01 ) $ — $ (0.02 ) $ 0.04 Diluted earnings per share $ 0.56 $ 0.61 $ 1.18 $ 1.19 Weighted-average common shares outstanding: Basic 587.0 602.1 586.9 601.8 Diluted 587.9 604.3 587.9 604.2 Operating statistics from continuing operations As a percentage of net sales: Gross profit 77.5 % 79.9 % 78.1 % 79.2 % Selling, general, and administrative expenses 32.8 % 32.7 % 32.9 % 32.4 % Research and development expenses 18.0 % 19.8 % 18.0 % 19.6 % Operating income 26.8 % 26.8 % 27.4 % 26.5 % Income before provision for income taxes 26.1 % 28.0 % 28.3 % 28.0 % Net income from continuing operations 21.9 % 26.6 % 23.8 % 25.5 % Effective tax rate 16.1 % 5.2 % 16.1 % 8.8 % Expand ____________________ Note: Numbers may not calculate due to rounding. Expand EDWARDS LIFESCIENCES CORPORATION Non-GAAP Financial Information To supplement the consolidated financial results prepared in accordance with Generally Accepted Accounting Principles ('GAAP'), the Company uses non-GAAP historical financial measures. Management makes adjustments to the GAAP measures for items (both charges and gains) that (a) do not reflect the core operational activities of the Company, (b) are commonly adjusted within the Company's industry to enhance comparability of the Company's financial results with those of its peer group, or (c) are inconsistent in amount or frequency between periods (albeit such items are monitored and controlled with equal diligence relative to core operations). The Company uses the terms "adjusted" and 'constant currency" when referring to non-GAAP sales from continuing operations and sales growth information, respectively, which excludes currency exchange rate fluctuations and newly acquired products. The Company uses the term 'adjusted' to also exclude certain litigation expenses, amortization of intangible assets, loss on impairment, and separation costs. Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results, and evaluating current performance. These non-GAAP financial measures are used in addition to, and in conjunction with, results presented in accordance with GAAP and reflect an additional way of viewing aspects of the Company's operations by investors that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting the Company's business and facilitate comparability to historical periods. Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to other companies and should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. A reconciliation of non-GAAP historical financial measures to the most comparable GAAP measure is provided in the tables below. Fluctuations in currency exchange rates impact the comparative results and sales growth rates of the Company's underlying business. Management believes that excluding the impact of currency exchange rate fluctuations from its sales growth provides investors a more useful comparison to historical financial results. The impact of the fluctuations has been detailed in the "Reconciliation of Sales by Product Group and Region." Guidance for sales and sales growth rates is provided on a "constant currency basis," and projections for diluted earnings per share, net income and growth, gross profit margin, and taxes are also provided on a non-GAAP basis, as adjusted, for the items identified above due to the inherent difficulty in forecasting such items without unreasonable efforts. The Company is not able to provide a reconciliation of the non-GAAP guidance to comparable GAAP measures due to the unknown effect, timing, and potential significance of special charges or gains, and management's inability to forecast charges associated with future transactions and initiatives. The items described below are adjustments to the GAAP financial results in the reconciliations that follow: Certain Litigation Expenses - The Company incurred certain litigation expenses of $10.9 million and $8.9 million in the first quarter of 2025 and 2024, respectively, and $15.5 million and $8.1 million for the second quarter of 2025 and 2024, respectively. Amortization of Intangible Assets - The Company recorded amortization expense related to developed technology and patents in the amount of $1.4 million and $0.5 million in the first quarter of 2025 and 2024, respectively, and $1.8 million and $1.2 million in the second quarter of 2025 and 2024, respectively. Separation Costs - The Company recorded expenses of $4.2 million in both the first and second quarter of 2025 related to consulting, legal, tax, and other professional advisory services related to the sale of Critical Care. Loss on Impairment - The Company recorded other-than-temporary loss on impairment of $47.1 million ($37.6 million net of tax) in the second quarter of 2025, related to the Company's determination to not exercise an option to acquire one of its cost method investments. Provision for Income Taxes - The income tax impacts of the expenses and gains discussed above are based upon the items' forecasted effect upon the Company's full year effective tax rate. Adjustments to forecasted items unrelated to the expenses and gains above, as well as impacts related to interim reporting, will have an effect on the income tax impact of these items in subsequent periods. Three Months Ended June 30, 2024 Net Sales Gross Profit Margin Operating Income, net Operating Profit Margin Net Income Diluted EPS Effective Tax Rate GAAP - Continuing Operations $ 1,369.4 79.9 % $ 366.5 26.8 % $ 364.0 $ 0.61 5.2 % Net loss attributable to noncontrolling interests — — — — 1.3 — — Total attributable to Edwards Lifesciences Corporation 1,369.4 79.9 % 366.5 26.8 % 365.3 0.61 5.2 % Non-GAAP adjustments: (A) (B) Certain litigation expenses — — 8.1 0.5 6.5 0.01 0.1 Amortization of intangible assets — 0.1 1.2 0.1 1.0 — — Prior period ongoing tax impacts — — — — 0.8 — — Adjusted $ 1,369.4 80.0 % $ 375.8 27.4 % $ 373.6 $ 0.62 5.3 % Expand Six Months Ended June 30, 2025 GAAP - Continuing Operations $ 2,944.9 78.1 % $ 806.0 27.4 % $ 699.5 $ 1.20 16.1 % Net loss attributable to noncontrolling interests — — — — 3.3 — — Total attributable to Edwards Lifesciences Corporation 2,944.9 78.1 % 806.0 27.4 % 702.8 1.20 16.1 % Non-GAAP adjustments: (A) (B) Certain litigation expenses — — 26.4 0.9 20.8 0.03 0.2 Amortization of intangible assets — 0.1 3.2 0.1 2.6 — — Separation costs — — 8.4 0.3 6.6 0.02 0.1 Loss on impairment — — — — 37.6 0.06 0.1 Adjusted $ 2,944.9 78.2 % $ 844.0 28.7 % $ 770.4 $ 1.31 16.5 % Expand Six Months Ended June 30, 2024 GAAP - Continuing Operations $ 2,699.3 79.2 % $ 715.5 26.5 % $ 688.9 $ 1.15 8.8 % Net loss attributable to noncontrolling interests — — — — 2.2 — — Total attributable to Edwards Lifesciences Corporation 2,699.3 79.2 % 715.5 26.5 % 691.1 1.15 8.8 % Non-GAAP adjustments: (A) (B) Certain litigation expenses — — 17.0 0.6 13.9 0.03 0.1 Amortization of intangible assets — — 1.7 0.1 1.4 — — Prior period ongoing tax impacts — — — 0.8 — — Adjusted $ 2,699.3 79.2 % $ 734.2 27.2 % $ 707.2 $ 1.18 8.9 % Expand ____________________ (A) See description of non-GAAP adjustments under "Non-GAAP Financial Information." (B) The tax effect on non-GAAP adjustments is calculated based upon the impact of the relevant tax jurisdictions' statutory tax rates on the Company's estimated annual effective tax rate, or discrete rate in the quarter, as applicable. The impact on the effective tax rate is reflected on each individual non-GAAP adjustment line item. Expand 2025 Adjusted 2024 Adjusted Sales by Product Group (QTD) - Continuing Operations 2Q 2025 2Q 2024 Change GAAP Growth Rate* Implantable Heart Failure Management 2Q 2025 Adjusted Sales FX Impact 2Q 2024 Adjusted Sales Constant Currency Growth Rate * Transcatheter Aortic Valve Replacement $ 1,130.9 $ 1,038.6 $ 92.3 8.9 % $ — $ 1,130.9 $ 11.3 $ 1,049.9 7.8 % Transcatheter Mitral and Tricuspid Therapies 134.5 83.0 51.5 61.9 % (1.5 ) 133.0 1.7 84.7 57.1 % Surgical Structural Heart 266.8 247.8 19.0 7.7 % — 266.8 2.4 250.2 6.8 % Total $ 1,532.2 $ 1,369.4 $ 162.8 11.9 % $ (1.5 ) $ 1,530.7 $ 15.4 $ 1,384.8 10.6 % Expand 2025 Adjusted 2024 Adjusted Sales by Product Group (YTD) - Continuing Operations YTD 2Q 2025 YTD 2Q 2024 Change GAAP Growth Rate* Implantable Heart Failure Management YTD 2Q 2025 Adjusted Sales FX Impact YTD 2Q 2024 Adjusted Sales Constant Currency Growth Rate * Transcatheter Aortic Valve Replacement $ 2,177.5 $ 2,046.5 $ 131.0 6.4 % $ — $ 2,177.5 $ (3.8 ) $ 2,042.7 6.6 % Transcatheter Mitral and Tricuspid Therapies 249.7 155.9 93.8 60.1 % (1.9 ) 247.8 (0.1 ) 155.8 59.1 % Surgical Structural Heart 517.7 496.9 20.8 4.2 % — 517.7 (2.2 ) 494.7 4.7 % Total $ 2,944.9 $ 2,699.3 $ 245.6 9.1 % $ (1.9 ) $ 2,943.0 $ (6.1 ) $ 2,693.2 9.3 % Expand 2025 Adjusted 2024 Adjusted Sales by Region (QTD) - Continuing Operations 2Q 2025 2Q 2024 Change GAAP Growth Rate* Implantable Heart Failure Management 2Q 2025 Adjusted Sales FX Impact 2Q 2024 Adjusted Sales Constant Currency Growth Rate * United States $ 889.7 $ 806.4 $ 83.3 10.3 % $ (1.5 ) $ 888.2 $ — $ 806.4 10.1 % Europe 378.2 332.2 46.0 13.8 % — 378.2 13.1 345.3 9.6 % Japan 95.3 86.5 8.8 10.2 % — 95.3 5.1 91.6 4.2 % Rest of World 169.0 144.3 24.7 17.1 % — 169.0 (2.8 ) 141.5 19.5 % Outside of the United States 642.5 563.0 79.5 14.1 % — 642.5 15.4 578.4 11.3 % Total $ 1,532.2 $ 1,369.4 $ 162.8 11.9 % $ (1.5 ) $ 1,530.7 $ 15.4 $ 1,384.8 10.6 % Expand ____________________ * Numbers may not calculate due to rounding. 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