After a nearly two-year hiatus, the diagnostic and therapeutic imaging giant Siemens Healthineers AG (XETRA: SHL.DE) has agreed to purchase Corindus Vascular Robotics, Inc. (NYSE: CVRS) for $1.1 billion, at a price of $4.28 per share.
Corindus is a global leader in robotic-assisted vascular interventions. Its CorPath platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. On a trailing 12-month basis, Cordindus reported approximately $12.3 million in revenue.
Siemens plans to combine its high-quality imaging, digital and artificial intelligence tools with Corindus’ precision robotics platform to improve treatment for those suffering from cardiovascular or peripheral disease.
The acquisition is the latest in a number of high-value purchases of robotics-focused companies, according to our Deal Search Online database. Johnson & Johnson (NYSE: JNJ) acquired Auris Health, Inc. for $3.4 billion. Auris develops robotic technologies, initially focused on lung cancer, with an FDA-cleared platform currently used in bronchoscopic diagnostic and therapeutic procedures. That acquisition was meant to accelerate Johnson & Johnson’s entry into robotics with potential for growth and expansion into other interventional applications.
In September 2018, another robotics firm, Mazor Robotics Ltd., was swept up by Medtronic plc (NYSE: MDT)for $1.34 billion. Mazor pioneered the application of robotics technology for use in spinal procedures and strengthens Medtronic’s position as a global leader in technologies for spine surgery.