Siemens Snaps Up Corindus Vascular Robotics For $1.1Bn
Siemens Healthineers AG has signed a billion-dollar deal to merge with US firm Corindus Vascular Robotics, expanding the German company's advanced therapies business.
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Device financing increased substantially in Q3, thanks to debt raises led by Insulet. Acquisition dollar volume dropped, though, but Siemens' buy of Corindus for $1.1bn was a stand-out. Diagnostics/research tools financing dropped by 28% from Q2, while acquisition value greatly increased due to Exact Sciences' $2.8bn purchase of Genomic Health.
Siemens Healthineers ̶ an engineering company by background – sees itself well positioned to benefit from the markets’ movement towards digital, workflows, robotics and minimally-invasive procedures. As such, it has advantages over pharma companies in being able to deliver better patient outcomes at lower cost and more effectively.
The physician who led the first-in-human robotic-assisted neurovascular intervention with Corindus’ CorPath GRX system believes the technology could revolutionize neurovascular intervention by allowing a centralized interventional team to remotely treat patients.