October 25, 2019
Stockholders of Corindus Vascular Robotics Approve Acquisition by Siemens Healthineers
October 25, 2019—Corindus Vascular Robotics, Inc. announced that the company’s stockholders approved the adoption of an agreement and plan of merger with Siemens Medical Solutions USA, Inc. (SMS USA). The parties anticipate that the transaction will close on October 29, 2019.
In August, Siemens Healthineers AG announced the merger agreement with Corindus, which develops, produces, and markets robotic systems for minimally invasive vascular interventional procedures.
Under the terms of the agreement between SMS USA, Corpus Merger Inc. (a wholly owned subsidiary of SMS USA), and Corindus, Corpus Merger will be merged with and into Corindus—with Corindus surviving the merger as a wholly owned subsidiary of SMS USA. The company’s stockholders also approved the proposal to approve, on an advisory (nonbinding) basis, specified compensation payable to the company’s named executive officers in connection with the merger.
Corindus Vascular Robotics’ CorPath platform is an FDA-cleared device providing robotic precision to percutaneous coronary and vascular procedures. CorPath GRX is the second-generation robotic-assisted technology and includes key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically, advised the company.