Irvine-based Edwards Lifesciences Corp. sold a line of medical devices used for kidney filtration to Baxter International Inc. for $65 million, said the former on Tuesday. According to the deal, Baxter will initially pay $56 million in cash upfront for the product line. Edwards could receive another $9 million in the next two years depending upon the product sales. The deal is likely to close in the third quarter and about 60 Edwards employees will join Baxter as part of the deal as well.

The product line that Edwards is selling is called hemofiltration or continuous renal replacement therapy that helps patients with malfunctioning kidneys. Hemofiltration works 24 hours a day for patients who have life-threatening kidney injuries or fluid overload and intends to aid patients by gradually filtering out waste and fluid from the kidneys.

Hemofiltration represented about $50 million Edwards’ sales last year. Edwards said in a statement that it was selling the business in order to focus on “global strategic priorities” and noted that Deerfield,
Ill.-based Baxter supplied solutions used with the devices. In morning trading Tuesday, Edwards shares dipped 31 cents to $65.34 and Baxter stock added 8 cents to $50.55.

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