The Valve Wire sealThe Valve Wire
July 27, 2026E. Nolan Beckett, MD · Editor
LIVE · 08:05 ET · JUL 27, 2026
EW ▼ MDT ▲ ABT ▲ BSX ▲

The Weekly

The Valve Wire Weekly

Week of July 19 – July 25, 2026

Week in Review

This was the week the durability bill came due. Three long-horizon datasets landed in parallel — a 70,641-patient meta-analysis showing mitral TEER carries roughly three-fold higher reintervention and five- to six-fold higher recurrent severe MR versus surgical repair, a review of the low-risk TAVR trials showing Evolut reintervention rates pulling away from surgery at 6–7 years (9.8% vs 6.0%, P=0.02), and a JAMA Cardiology substudy finding that 15% of "asymptomatic" severe aortic stenosis patients had a positive treadmill test they never received. Edwards Lifesciences raised full-year guidance on 12.5% Q2 sales growth the same afternoon the durability literature dropped. The market rewarded volume; the literature interrogated selection. Two structural wins for the surgical community: the STS registry documents that operative mortality for SAVR-after-TAVR has fallen from 13.1% to 3.5% over the last decade, and a TRIVALVE registry analysis found only about half of real-world transcatheter tricuspid TEER patients would have qualified for the trials underpinning the ESC 2025 Class IIa endorsement — and the other half fared roughly twice as badly. CMS released its proposed 2026 TAVR National Coverage Determination with medical societies now formally commenting.


Top Stories This Week

[NOTABLE] Mitral TEER's durability gap with surgical repair widens with follow-up

A meta-analysis of 21 studies covering 70,641 patients, published in Heart, Lung and Circulation, put hard numbers on what surgeons have argued for years: transcatheter edge-to-edge repair does not match surgical durability. TEER carried a 1-year mortality relative risk of 1.58 versus surgical repair, a reintervention RR of 2.98 (95% CI 2.14–4.14), and recurrent ≥3+ MR RR of 4.80 (95% CI 1.97–11.72) at 1 year, rising to 6.51 (95% CI 2.60–16.29) at 3 years. TEER cohorts were older and higher-risk, but the recurrence curves separate over time — this is not comorbidity artifact.

ACC/AHA 2020 keeps TEER at Class IIa for high-risk primary MR. ESC 2025 restricts its Class I upgrade to COAPT-eligible ventricular secondary MR, where the comparator is medical therapy, not repair. This meta-analysis is exactly why those guardrails exist. As TEER volumes expand under the ESC's Class I endorsement, the surgical durability advantage is the counterweight the guidelines already tried to build in. Read the study.

[NOTABLE] Low-risk TAVR reintervention signal emerges at 6–7 years in Evolut cohort

A Trends in Cardiovascular Medicine review by Braasch, Bai, and Kaneko aggregated the mature low-risk TAVR data: NOTION at 10 years, PARTNER 3 at 7 years, and Evolut Low Risk at 6–7 years. Composite endpoints across the three trials remain non-inferior. But Evolut Low Risk now shows 9.8% TAVR versus 6.0% SAVR reintervention (P=0.02). PARTNER 3 and NOTION reintervention differences remain non-significant.

ESC 2025 lowered the TAVI-preferred age to ≥70 and SAVR-preferred to <70 for low-risk patients. ACC/AHA 2020 holds SAVR-preferred <65 with a shared-decision zone through age 80. The Evolut reintervention curve validates the surgical-preferred age floor rather than refuting it — particularly for patients whose life expectancy exceeds 10 years. This is the first mature RCT-level signal that the reintervention penalty is real. Read the review.

[NOTABLE] STS validates SAVR-after-TAVR risk model; operative mortality drops from 13.1% to 3.5%

Hawkins, Bonnell, Mehaffey and colleagues published the first validated risk model for SAVR after prior TAVR in Annals of Thoracic Surgery, drawing on 5,708 STS Adult Cardiac Surgery Database cases from July 2014 through March 2025. AUC 0.82 for operative mortality; 0.73 for the morbidity/mortality composite. Operative mortality fell from 13.1% at the start of the study period to 3.5% by its end, with 53.3% of isolated cases now carrying predicted mortality below 3%. Era was included as an interaction term, acknowledging that surgical explant technique has matured.

ESC 2025 cited THV explantation mortality of 12–17% as a caution against aggressive lifetime planning. This registry says that figure is era- and cohort-dependent, and in selected isolated cases, meaningfully lower. It does not settle the redo-TAVR versus explant debate, but it undercuts the reflexive assumption that TAVR failure means a prohibitive-risk second act. Directly relevant to Heart Team discussion for the 65–70 age bracket — where ACC/AHA 2020 and ESC 2025 diverge most sharply — and for bicuspid patients (still Class IIb for TAVI in both guidelines). Read the study.

EARLY TAVR treadmill substudy: 15% of "asymptomatic" AS patients weren't

Généreux, Schwartz, Lindman and colleagues published a prespecified EARLY TAVR registry substudy in JAMA Cardiology. Of screened "asymptomatic" severe AS patients, 15.2% had a positive treadmill stress test. Of stress-positive patients, 76.2% went to AVR — but 20% did not, despite carrying a Class I or IIa indication.

ESC 2025 elevated early intervention in asymptomatic severe AS to Class IIa across the board, anchored to EARLY TAVR, RECOVERY, and AVATAR. This substudy sharpens the picture: a meaningful fraction of "asymptomatic" patients are actually symptomatic on provocation, and the ESC IIa recommendation looks better calibrated when preceded by disciplined stress testing than when applied uniformly. ACC/AHA 2020 remains more conservative on asymptomatic intervention; the treadmill data cut both ways for that debate. Read the study.

Edwards Q2 beat and raise meets CMS TAVR coverage reconsideration

Edwards Lifesciences reported Q2 2026 sales up 12.5% year-over-year with raised full-year guidance. TAVR sales grew 13.6% (per secondary coverage). The Transcatheter Mitral and Tricuspid Therapies (TMTT) franchise contributed meaningfully. Leerink upgraded on TAVR momentum. See WSAU coverage, GuruFocus, and MedTech Dive.

The commercial expansion is outpacing the evidence base for patient selection interrogated across the mitral meta-analysis, the low-risk TAVR review, the EARLY TAVR substudy, and the TRIVALVE registry. The same afternoon, CMS released its proposed 2026 TAVR National Coverage Determination (CAG-00430R2), addressing volume thresholds, operator experience floors, Heart Team composition, and — per a pointed Annals editorial by Michael Bowdish — mandatory registry participation. Bowdish's editorial warns that loosening STS/ACC TVT Registry requirements while expanding coverage would leave the field flying blind at exactly the moment it needs surveillance most.

TRIVALVE registry: half of real-world T-TEER patients would not have qualified for the trials

Russo, Pedicino, Adamo and colleagues published a TRIVALVE registry analysis in Catheterization and Cardiovascular Interventions. Among 664 real-world transcatheter tricuspid TEER patients, 46% met TRILUMINATE Pivotal inclusion/exclusion criteria and 50% met Tri.Fr criteria. Trial-eligible patients had markedly lower event rates: 12% versus 25% (p=0.028) for TRILUMINATE criteria; 15% versus 22% (p=0.007) for Tri.Fr.

ESC 2025's Class IIa (LOE A) transcatheter tricuspid recommendation rests on trial populations that represent roughly half of who is actually being treated. The other half does substantially worse and has no randomized data characterizing them. ACC/AHA 2020 makes no recommendation in this space. Registry data, not randomized — but the signal is coherent across two independent criteria sets. Read the study.


Aortic Valve (TAVR/TAVI)

The Braasch et al. review in Trends in Cardiovascular Medicine is the week's tentpole aortic paper. NOTION at 10 years, PARTNER 3 at 7 years, and Evolut Low Risk at 6–7 years all show composite non-inferiority for TAVR versus SAVR, but Evolut's reintervention curve has now separated (9.8% vs 6.0%, P=0.02). PARTNER 3 and NOTION reintervention differences remain non-significant. Read this alongside Hawkins et al. in Annals of Thoracic Surgery — SAVR-after-TAVR operative mortality now 3.5% in contemporary cohorts, with 53.3% of isolated cases carrying predicted mortality below 3% — and the durability conversation shifts from "TAVR first, surgery later is fine" to "reintervention is a real line item with real risk."

Généreux et al. in JAMA Cardiology — the EARLY TAVR treadmill substudy — is the second consequential aortic paper. 15% of screened "asymptomatic" severe AS patients had a positive treadmill test; only 76.2% of those went to AVR. Truly asymptomatic requires a treadmill, and the field is not running enough of them. A real-world matched-cohort study in the Journal of Cardiovascular Medicine (Massussi et al., 106 matched pairs) found no 5-year difference between BAV and TAV self-expanding TAVI in SVD (1.07% vs 1.79%, P=0.829) or bioprosthetic valve failure — reassuring but underpowered to overturn the Class IIb BAV recommendation both guidelines maintain. NOTION 2 reported a numerically higher event rate with TAVI in BAV (HR 3.8, P=0.07); this small matched cohort does not resolve that.

Other aortic contributions this week: an STS-PROM AKI substudy in Current Problems in Cardiology (N=82, single-center) identified a threshold of ≥5.75 predicting post-TAVI AKI (AUC 0.732); a COMPARE-TAVI 1 substudy in JACC Imaging documented indexed stroke volume recovery in low-flow AS after TAVI; and a propensity-matched TriNetX study in the Journal of Clinical Anesthesia (N=3,586 matched) found no 1-year mortality difference between general and non-general anesthesia for TAVR but signaled higher 1-year HF events with GA (HR 1.44). A two-center propensity-matched analysis in the American Journal of Cardiovascular Disease (141 pairs) found aspirin and clopidogrel monotherapy after TAVI indistinguishable at 49 months. A single-center Japanese cohort in Cureus (N=123) identified handgrip strength as the sole independent frailty predictor of 1-year death/rehospitalization after TAVI (HR 0.93 per kg). A Nationwide Readmissions Database analysis in PLOS ONE (N=55,891) found 37.4% of 90-day TAVR readmissions go to non-index facilities, driving respiratory (AOR 1.20), GI (AOR 1.21), and infectious (AOR 1.17) complications. A novel CT-derived "Vectorial Angle" study in the American Journal of Cardiology (N=67) predicted PPM need after TAVI (AUC 0.806). An EJCTS state-of-the-art review pushed selective post-TAVI MDCT for subclinical leaflet thrombosis surveillance. Technique reviews included a Radiology: Cardiothoracic Imaging review of preprocedural CT for redo TAVR, a European Cardiology review of BASILICA, and a Future Cardiology review of direct TAVI versus predilatation.

A large JACC: Cardiovascular Interventions analysis covered in Cardiovascular Business reported failure-to-rescue rates after TAVR complications essentially identical across volume tiers at approximately 11%. The volume-outcome relationship in TAVR is about complication avoidance, not rescue capacity — a finding directly relevant to the CMS NCD debate on volume thresholds.


Mitral Valve (Repair & Replacement)

The Balaji et al. meta-analysis in Heart, Lung and Circulation (21 studies, 70,641 patients) is the week's most consequential mitral paper. TEER carried a 1-year mortality RR of 1.58 versus surgical repair, a reintervention RR of 2.98, and recurrent ≥3+ MR RR of 4.80 at 1 year, rising to 6.51 at 3 years. ACC/AHA 2020 holds TEER for primary MR at Class IIa; ESC 2025 does the same for primary MR and reserves Class I only for COAPT-eligible ventricular secondary MR. This meta-analysis is why the guidelines exist as they do.

Koell, Plewe, Ludwig and colleagues in Structural Heart — a 2,528-patient international M-TEER registry across 27 sites (2009–2023) — found that NYHA IV patients had comparable procedural success (residual MR ≤1+ in 66.7% vs 64.6%) but 2-year all-cause mortality of 31.8% versus 21.1% (HR 1.75, 95% CI 1.32–2.31, p<0.001). Waiting until NYHA IV erases much of the intervention's mortality benefit regardless of device. This supports ESC 2025's Class I upgrade for early MV repair in asymptomatic severe primary MR with ≥3 risk factors (AF, SPAP >50 mmHg, LAVI ≥60, ≥moderate TR); ACC/AHA 2020 holds at Class IIa.

A pointed European Heart Journal letter flagged potential exacerbation of systolic anterior motion during M-TEER — a mechanism worth internalizing given ESC 2025's Class I TEER upgrade for ventricular SMR. COAPT criteria do not screen for SAM substrate. A JACC Case Reports piece on early single-leaflet device attachment after PASCAL TEER illustrated the anatomic complexity of primary MR outrunning device design. A retrospective TEE study in the Journal of Cardiothoracic and Vascular Anesthesia (N=75) found 2D and 3D measurements of mitral leaflet lengths correlated only moderately (r=0.41–0.74), with coefficients of variation for posterior scallops reaching 40–60% — 3D MPR halved interobserver variability. Given that M-TEER eligibility is decided on millimeters, this argues for 3D MPR as the standard of care for procedural planning.

TMVR remained largely investigational this week; TCTMD ran a live case session on the M3 TMVR device from Sutter Health San Francisco, but no outcomes data were published.


Tricuspid Valve (Repair & Replacement)

Sannino, Grayburn, Kodali and colleagues in JACC: Cardiovascular Imaging published the TRISCEND II 1-year echocardiographic substudy (N=267, 2:1 randomization). 95.3% of patients receiving transcatheter tricuspid valve replacement (Edwards EVOQUE) had mild or less TR at 1 year versus 2.3% in medical-therapy controls (P<0.001). Significant IVC diameter reduction, RV diastolic reverse remodeling, and increases in RV stroke volume and cardiac output. The apparent drop in RV systolic function metrics reflects acute preload unloading, not deterioration. This is foundational data underpinning ESC 2025's Class IIa (LOE A) endorsement of transcatheter TV treatment; ACC/AHA 2020 makes no recommendation.

Russo et al. in Catheterization and Cardiovascular Interventions — the TRIVALVE registry analysis — reported that of 664 real-world T-TEER patients, 46% met TRILUMINATE criteria and 50% met Tri.Fr criteria. Trial-eligible patients had markedly lower event rates. The other half — with no randomized data to characterize them — did roughly twice as poorly. The ESC 2025 Class IIa endorsement rests on a trial population that maps onto only about half of who is actually being treated.

von Stein, von Stein, Stolz and colleagues in JACC: Advances published a propensity-matched comparison of T-TEER versus transcatheter annuloplasty (111 pairs from a 1,122-patient cohort). T-TEER outperformed annuloplasty on residual TR ≤1+ (50.0% vs 34.2%) and ≤2+ (87.7% vs 67.6%), and on procedural complications (4.5% vs 27.0%). One-year mortality/HFH was comparable (75.0% vs 79.8%, P=0.408). Retrospective, non-randomized, and biased toward centers with T-TEER volume — inference is bounded. A parallel Pacing and Clinical Electrophysiology case series flagged valve-sparing pacing needs (leadless devices, LBBAP) after T-TEER — a downstream cost the trials have not quantified.

Jenscare implanted its first US patients in its transcatheter tricuspid valve replacement pivotal trial (MassDevice), joining Edwards' EVOQUE post-approval and Abbott's early-stage TTVR programs. At least three US pivotal TTVR trials are now enrolling in parallel.


Surgical vs. Transcatheter Comparisons

Three convergent findings this week reframed the durability conversation. First, the 70,641-patient TEER-vs-surgery mitral meta-analysis established that TEER durability is meaningfully inferior at 1 and 3 years even acknowledging population differences. Second, the low-risk TAVR review documented an emerging TAVR reintervention penalty at 6–7 years in Evolut Low Risk. Third, the STS SAVR-after-TAVR risk model quantified how much safer the surgical bailout has become — 3.5% operative mortality in contemporary practice, with more than half of isolated cases carrying predicted mortality below 3%.

Together these push against the "TAVR first, surgery later" lifetime-management framing that has undergirded transcatheter volume expansion. ACC/AHA 2020 preferences SAVR under age 65 on durability grounds; ESC 2025 raised the floor to under 70. The Evolut reintervention curve validates those age thresholds rather than refuting them, particularly for patients whose life expectancy exceeds 10 years. For BAV — Class IIb in both guidelines — the STS explant model provides new empirical support for the surgical preference.

A critical appraisal in General Thoracic and Cardiovascular Surgery targeted a recent SAVR survival prediction model for lacking frailty variables and external validation — a methodological critique that applies equally to most TAVR risk tools in current use. Lifetime-management decisions are being made on both sides with underpowered risk stratification.


Clinical Trials Update

Aortic

  • NCT04011722Portico Next Generation Approval Study. Status: Active, Not Recruiting. Enrollment: 333. Sponsor: Abbott Medical Devices. Interventions: Portico NG (Navitor) Valve + FlexNav Delivery System; Navitor Titan Valve (35mm) + Large FlexNav Delivery System. The Navitor platform is Abbott's answer to Edwards SAPIEN and Medtronic Evolut. Approval is the piece Abbott needs to compete in low-risk TAVR expansion.
  • NCT07359898International Multicenter Study of the Navitor/Navitor Vision Transcatheter Aortic Valve Platform. Status: Recruiting. Enrollment: 1000. Sponsor: IRCCS Policlinico S. Donato.
  • NCT02701283[LANDMARK] Evolut Low Risk long-term follow-up. Status: Active, Not Recruiting. Enrollment: 2,223. Sponsor: Medtronic Cardiovascular. This is the trial whose 6–7-year data drove this week's reintervention signal (9.8% TAVR vs 6.0% SAVR, P=0.02).
  • NCT04728698[LANDMARK] PARTNER 3 Low Risk (5-year follow-up).
  • NCT06991517ABC Bicuspid Sizing Algorithm study. Status: Recruiting. Enrollment: 290. BAV sizing remains a Class IIb TAVI question in both guidelines.
  • NCT07456280IMPROVE Study (noninvasive ECG monitoring for early discharge in TAVI patients with conduction disorders). Status: Recruiting. Enrollment: 100.
  • NCT07591922Intraoperative Music Therapy in TAVR Patients. Status: Recruiting. Enrollment: 100.
  • NCT02744677COMPASSION S3 (SAPIEN 3 for pulmonary valve dysfunction). Status: Recruiting. Enrollment: 108. Sponsor: Edwards Lifesciences.
  • NCT07709858CHATEAU Registry (TAVR outcomes). Status: Recruiting. Enrollment: 4,000.
  • NCT06594705JenaValve ALIGN-AR LVAD Registry (Trilogy Heart Valve for AR in LVAD patients). Status: Active, Not Recruiting. Enrollment: 50.

Mitral

  • NCT04198870[LANDMARK] REPAIR-MR (MitraClip vs surgery for primary MR). Status: Active, Not Recruiting. Enrollment: 500. Sponsor: Abbott Medical Devices. This is the trial that will define whether TEER can approach surgical durability in primary MR — the question this week's 70,641-patient meta-analysis put in sharp relief.
  • NCT05051033[LANDMARK] PRIMARY (MitraClip vs medical therapy for secondary MR). Status: Active, Not Recruiting. Enrollment: 450.
  • NCT03706833[LANDMARK] COAPT long-term follow-up. Status: Active, Not Recruiting. Enrollment: 1,247. Sponsor: Edwards Lifesciences.
  • NCT03433274Tendyne Transcatheter Mitral Valve System. Status: Active, Not Recruiting. Enrollment: 103. Sponsor: Abbott Medical Devices.
  • NCT03242642[LANDMARK] Intrepid TMVR Pivotal. Status: Recruiting. Enrollment: 1,056. Sponsor: Medtronic Cardiovascular.
  • NCT03230747SAPIEN M3 Early Feasibility Study. Status: Active, Not Recruiting. Enrollment: 72. Sponsor: Edwards Lifesciences.
  • NCT02276547Neovasc Tiara Mitral Valve System Early Feasibility Study. Status: Completed. Enrollment: 27. Sponsor: Shockwave Medical.
  • NCT04147884Millipede Transcatheter Annuloplasty Ring System Feasibility Study. Status: Active, Not Recruiting. Enrollment: 4. Sponsor: Boston Scientific.
  • NCT07716826IMPACT-CMH (mitral abnormalities in obstructive HCM treated with mavacamten). Status: Not Yet Recruiting. Enrollment: 150.

Tricuspid

  • NCT04482062[LANDMARK] TRISCEND II (EVOQUE tricuspid replacement). Status: Active, Not Recruiting. Enrollment: 864. Sponsor: Edwards Lifesciences. Source of this week's 1-year echocardiographic substudy in JACC Imaging.
  • NCT03904147[LANDMARK] TRILUMINATE Pivotal (TriClip for TR). Status: Active, Not Recruiting. Enrollment: 572. Sponsor: Abbott Medical Devices.
  • NCT04097145[LANDMARK] CLASP II TR (PASCAL for TR). Status: Recruiting. Enrollment: 1,270. Sponsor: Edwards Lifesciences.
  • NCT06183684Laplace TTVR Early Feasibility Study. Status: Recruiting. Enrollment: 65. Sponsor: Laplace Interventional.
  • NCT07687485Laplace TTVR pivotal (vs EVOQUE). Status: Not Yet Recruiting. Enrollment: 700. This is the first head-to-head TTVR device trial to appear on the docket, comparing Laplace against EVOQUE directly.

Valve Industry Stocks — Weekly Performance

6-Month Valve Industry Stock Performance

Edwards Lifesciences (EW) — $82.63

EW 6-Month Chart

  • Weekly change: down $3.10 (-3.6%) from Monday's $85.73 close
  • Market cap $47.6B; P/E trailing 49.18, forward 24.58; 52-week range $72.30–$96.29
  • Analyst target $100.36 (25 analysts, Buy); range $84–$110
  • Next earnings: Q3 print (already reported Q2 this week; beat and raised guidance)

Edwards reported Q2 sales up 12.5% year-over-year with TAVR up 13.6% and TMTT contributing meaningfully. Full-year guidance was raised. Leerink upgraded on TAVR momentum (Investing.com). Despite the beat and raise, the stock finished the week down 3.6% — the guidance raise was largely priced in after the initial after-hours pop, and the coincident release of durability and selection literature weighed on sentiment. The CMS TAVR NCD reconsideration is the near-term catalyst that could reprice the top line in either direction.

Medtronic (MDT) — $83.21

MDT 6-Month Chart

  • Weekly change: essentially flat from Monday's $83.20 close
  • 6-month change: -15.9%
  • Market cap $106.5B; P/E trailing 21.96, forward 12.99; Beta 0.58; 52-week range $73.31–$106.33
  • Analyst target $97.84 (25 analysts, Buy)
  • Next earnings: September 1 (EPS est $1.39, revenue est $9.55B)

Evolut Low Risk long-term follow-up remains the structural asset in the portfolio. The 6–7-year reintervention gap (9.8% vs 6.0%, P=0.02) is a durability overhang that will complicate ESC 2025's TAVR-preferred position at age ≥70 as follow-up matures. Broader diversification into diabetes and neuromodulation dilutes the valve-specific narrative for now.

Abbott (ABT) — $103.06

ABT 6-Month Chart

  • Weekly change: up $2.38 (+2.4%) from Monday's $100.68 close
  • 6-month change: -4.0%
  • Market cap $179.5B; P/E trailing 32.61, forward 16.99; Beta 0.61
  • Analyst target $119.12 (24 analysts, Buy); range $103–$135
  • Next earnings: October 14 (EPS est $1.42, revenue est $12.99B)

Abbott's MitraClip franchise sits directly in the crosshairs of this week's TEER durability meta-analysis; the TriClip franchise benefits from ESC 2025's Class IIa endorsement of transcatheter TR treatment. Navitor pivotal readouts remain the aortic story to watch.

Boston Scientific (BSX) — $44.25

BSX 6-Month Chart

  • Weekly change: up $0.22 (+0.5%) from Monday's $44.03 close
  • 6-month change: -52.7%
  • Market cap $65.8B; P/E trailing 18.51, forward 11.92; Beta 0.58
  • Analyst target $72.43 (28 analysts, Strong Buy); range $55–$106
  • Next earnings: July 29 (EPS est $0.83, revenue est $5.37B)

The 53% six-month drawdown against Strong Buy consensus is the sector's outlier. The ACURATE neo2 US commercial pause remains a structural heart overhang. Q2 print next week will be a referendum on whether the sell-off is thesis-broken or overshoot.

Anteris Technologies (AVR.AX) — A$11.37

AVR.AX 6-Month Chart

  • Weekly change: down A$0.43 (-3.6%) from Monday's A$11.80 close
  • 6-month change: +23.6%
  • Market cap A$1.1B; forward P/E -5.21 (pre-revenue); Beta 0.73
  • Single-analyst target A$13.00

DurAVR THV story remains speculative and enrollment-dependent. Small-cap volatility with single-product concentration risk.

Private Companies

JenaValve Technology (Trilogy Heart Valve System for AR — ALIGN-AR LVAD Registry active), J Valve Technology, and Meril Life Sciences remain private and do not have public stock data. Venus Medtech (China-listed; completed enrollment in PREVAILS TAVR pivotal for Venus-PowerX this week per MassDevice) adds a fourth global self-expanding TAVR platform to the pipeline.

Market Outlook

The sector is bifurcated. Edwards trades as if TAVR volume growth is intact and asymptomatic AS is a real opportunity. Medtronic and Boston Scientific trade as if the growth thesis needs to be defended. This week's durability data — mitral in particular — support selectivity: transcatheter revenue growth depends on staying within guideline-defined populations, not indication creep. Boston Scientific reports Q2 on July 29 — the print will test whether the ACURATE neo2 franchise has a defined US path and whether TriClip's ESC-endorsed tailwind is materializing in volume.


Regulatory & Policy

CMS released its proposed 2026 TAVR National Coverage Determination (CAG-00430R2). The reconsideration addresses volume thresholds, operator experience floors, Heart Team composition, and — per Bowdish's