Siemens Medical Solutions, a wholly-owned subsidiary of Siemens Healthineers AG, has completed its acquisition of 100% of Waltham, Massachusetts-based Corindus Vascular Robotics. The deal, which was for $1.1 billion, was first announced back in August.
Corindus specializes in robotic-assisted intervention, allowing physicians to perform minimally invasive procedures in a way that reduces strain and fatigue and provides “point and shoot” navigation. Mark J. Toland, president and CEO of Corindus before this acquisition, will still manage the business moving forward.
“The combination of Siemens Healthineers’ strong medical technology portfolio with its digital platforms and solutions, together with Corindus’ precision robotics platform, has the potential to transform healthcare delivery so that, together, we can provide better care at lower cost,” Toland said in a prepared statement.
Corindus is now part of the advanced therapies reporting segment at Siemens Healthineers.
“With the completion of the acquisition, we are opening up a new field for our Advanced Therapies business, tapping into adjacent growth markets with great potential for the future,” Bernd Montag, CEO of Siemens Healthineers, said in the same statement.