Siemens To Buy Cardiac Cath Firm Corindus For $1.1B

Siemens Healthineers has reached an agreement to buy robotic catheterization developer Corindus Vascular Robotics in a deal valued at $1.1 billion.

Siemens has agreed to buy all of the outstanding shares of Corindus for $4.28 a share. The deal is expected to close in the fourth quarter of 2019.

Corindus develops vascular robotics technology designed to support robotic-assisted coronary, peripheral, and neurovascular procedures. Siemens plans to integrate the technology with its own portfolio of advanced therapy systems.

Corindus developed CorPath, designed to bring robotic precision to percutaneous coronary and vascular procedures. The company’s second-generation technology, CorPath GRX, offers enhancements by adding upgrades to improve precision, facilitate workflow, and extend the capabilities and range of clinical procedures that can be performed robotically. – Aunt Minnie