Critical care monitoring company Edwards Lifesciences Corporation (NYSE:EW) disclosed on Monday the receipt of the first CE Mark for the Edwards Cardioband Tricuspid Valve Reconstruction System for the treatment of patients suffering from tricuspid regurgitation.

Tricuspid regurgitation is a disorder in which this valve does not close tight enough. This problem causes blood to flow backward into the right upper heart chamber (atrium) when the right lower heart chamber (ventricle) contracts.

The company said the Cardioband Tricuspid System is delivered via a transfemoral approach and is designed to reduce tricuspid regurgitation through annular reduction. It enables precise positioning to a patient's specific anatomy and real-time adjustment with simultaneous confirmation of results.

In conjunction, the data on the Cardioband Tricuspid System will be presented in May at EuroPCR 2018.

Concurrently, the CE Mark is one of the pre-specified milestones that prompts a distribution of cash and stock of USD50m to the company's former investors of Valtech Cardio. Additionally, Prof. Georg Nickenig, chief, Department of Cardiology, University Hospital, Bonn, Germany has received compensation from Edwards for educational and training activities.