The acquisition meets objectives to reduce treatment times, increase precision during treatment, raise standardisation levels in clinical procedures, improve clinical outcomes
Siemens Healthineers has entered into a merger agreement with US – based Corindus Vascular Robotics a developer and producer of robotic systems for minimally invasive procedures. 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 calendar year 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, Boston, Massachusetts and currently has approximately 100 employees.
The acquisition of Corindus meets the objective of simplifying today’s challenges in everyday hospital life. Robotic assisted minimally invasive procedures have the potential to reduce treatment times, increase precision during treatment, raise standardisation levels in clinical procedures and ultimately improve clinical outcomes, which is the strategic focus of the advanced therapies business segment.
“Together with Corindus, Siemens Healthineers is well-positioned to be one of the leading players in the field of robotic vascular interventions and to perform minimally invasive procedures more accurately, more quickly and more effectively. With this acquisition, we are opening up a new field for our image-guided therapies business. Together with our strong portfolio in imaging, digitalisation and artificial intelligence, we are creating significant synergies to advance therapy outcomes,” said Bernd Montag, CEO, Siemens Healthineers.
“The collaboration with Siemens Healthineers is a unique opportunity to take our business to the next level and continue our success story. Together we plan to develop next- generation solutions that further improve patient care,” said Mark Toland, President and CEO, Corindus.
“The interplay of exact imaging and robotic-assisted interventions will enhance both the eyes and hands of the physician, metaphorically speaking. With the addition of Corindus to our strong therapies portfolio we sharpen our procedural focus and will grow by expanding precision medicine and improving clinical outcomes. In the future, our digital and artificial intelligence-based tools will help to integrate the aspects of image-guidance and therapy even further,” said Michel Therin, President Advanced Therapies, Siemens Healthineers.