Siemens Healthineers to Acquire Corindus Vascular Robotics

August 8, 2019—Siemens Healthineers AG announced it has entered into a merger agreement with Corindus Vascular Robotics, Inc., which develops, produces, and markets robotic systems for minimally invasive vascular interventional procedures. These systems help interventionalists precisely control guide catheters, guidewires, balloons, or stent implants via integrated imaging. The physician can control the procedure with a separate controlling module for less exposure to radiation. Corindus' robotic treatment platform is focused on major vascular therapeutic markets, including coronary, peripheral vascular, and neurovascular interventions.

According to the company, the acquisition of Corindus meets the strategic focus of Siemens' Advanced Therapies business segment. The CorPath systems developed by Corindus will be used with angiography systems marketed by Siemens Healthineers that make minimally invasive treatment possible by using high-quality imaging before and during medical interventions. The future integration of Siemens Healthineers' digitization and artificial intelligence solutions with Corindus' robotic systems offers additional promising possibilities.

Under the terms of the agreement, Siemens Healthineers will acquire all fully diluted shares of Corindus for $4.28 per share in cash or $1.1 billion in total. The transaction is expected to be closed by end of 2019, subject to Corindus shareholder approval, receipt of regulatory approvals, and other customary closing conditions. The Corindus board fully supports the acquisition proposal. Corindus is headquartered in Waltham, Massachusetts, and currently has approximately 100 employees, stated the company.