Siemens Will Be Acquiring Corindus Vascular Robotics for 1.1 billion dollar

Siemens Will Be Acquiring Corindus Vascular Robotics for 1.1 billion dollar

Siemens Healthineers is diving deeper into the surgical robotics, giving 1.1 billion dollars in cash for picking up Corindus Vascular Robotics which is a maker of a simply invasive platform for the of coronary, as well as procedures of peripheral and neurovascular.

The subsidiary of medical solutions of Seimens will be acquiring all issued and the amazing shares of the common stock of Corindus for 4.28 dollar per share.

The merger which is expected to close near the end of the year, depending on the approval by the shareholders of Corindus, has the aim of coupling the established surgery tools of Siemens in digital imaging as well as artificial intelligence with a platform of precision robotics for cardiovascular disease.

The President of Corindus and the Chief Executive Officer, Mark Toland said in a statement that the tremendous technology synergies along with the shared vision of both companies should be able to allow them in achieving an easy and flawless integration between their businesses. He also said that they believed that the transaction would deliver instant, compelling and also certain value to all the shareholders of Corindus, as well as the substantial benefits to their customers.

The 2 companies unveiled their news alongside the report of the second quarter’s earnings of Corindus, with its 4.6 million dollar in revenue consisting of a 175 percent increase as compared to the 1.7 million dollars that were raised in the same quarter in the previous year. It included the sales of 6 new systems of CorPath GRX and also 1 upgrade and 2 units that were sold to the distributors in Italy and Japan. Furthermore, it sold 700 of the single-use robotic cassettes that are used in the procedures, for almost 300,000 dollars.