Siemens Medical Solutions, a wholly-owned subsidiary of Siemens Healthineers AG, has agreed to acquire Waltham, Massachusetts-based Corindus Vascular Robotics. The all-cash deal has a purchase price of approximately $1.1 billion, or $4.28 per share.
Corindus specializes in precision vascular robotics solutions such as the FDA-approved CorPath platform for percutaneous coronary and vascular procedures.
“We are pleased to have reached this agreement with Siemens Healthineers,” Mark J. Toland, president and CEO of Corindus, said in a prepared statement. “We believe the transaction will deliver immediate, compelling and certain value to all Corindus stockholders, as well as substantial benefits to our customers. The combination of Siemens Healthineers’ advanced, high-quality imaging, digital and artificial intelligence tools with Corindus’ precision robotics platform has the potential to transform the way healthcare is delivered to those suffering from cardiovascular or peripheral disease.”
“Corindus has established a leading position in vascular robotics with a compelling technology platform for robotic-assisted coronary, peripheral, and neurovascular procedures,” Michel Therin, president of advanced therapies at Siemens Healthineers, said in the same statement. “The acquisition of Corindus, combined with Siemens’ strong advanced therapies portfolio will help further advance the growth of vascular robotics. The integration of our technologies could lead to reduced variability, improved efficiency, expanded access to care, and ultimately improved patient outcomes.”