Siemens acquires robotic PCI technology for $1.1 billion

Siemens announced it has acquired Corindus Vascular Robotics, manufacturer of robotic-assisted PCI systems, for $1.1 billion.

According to a press release issued by the companies, Corindus makes the only FDA-cleared and CE-marked robotic systems for endovascular coronary and peripheral interventions. The systems allow the operator to stand away from the angiography table, exposing them to less radiation.

The systems can also be operated from a remote site, according to a case report released in September in The Lancet’s EClinicalMedicine that documented the world’s first coronary procedures performed from a remote location.

“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 health care delivery so that, together, we can provide better care at lower cost,” Mark J. Toland, former president and CEO of Corindus, who will continue to manage the business within Siemens Healthineers, said in the release.

Doug Teany, COO of Corindus, who will also take a role within Siemens Healthineers, told Healio that Corindus had been looking for a partnership with a larger company, and that process eventually turned into acquisition talks with Siemens.

“This acquisition came as a result of great similarities and capability overlap,” Teany said in an interview. “They have roughly 50,000 employees in 70 countries, so from a commercialization standpoint, they have an extensive reach compared to what Corindus would have on its own. What comes with that is a very sophisticated service organization. A big part of this acquisition is about scaling the work that we’ve done and being able to support that work clinically and service that work without missing a beat. On the tech development side, a lot of what we do with vascular robotics is imaging-based, and Siemens is arguably the world’s largest expert on imaging-based technologies in the medical device industry. Having capabilities in remote robotics, autonomous navigation and artificial intelligence-prescriptive analytics is a partnership that is primed to accomplish some big things.”

Operators already using the technology should experience no changes in product offerings or services, and the products will continue to work with imaging systems not made by Siemens, Teany told Healio.

Reference:

Patel TM, et al. EClinicalMedicine. 2019;doi:10.1016/j.eclinm.2019.07.017.

For more information:

Doug Teany can be reached at Corindus Vascular Robotics, 309 Waverley Oaks Road, Suite 105, Waltham, MA 02452.

Disclosures: Toland and Teany were employees of Corindus Vascular Robotics and are now employees of Siemens.

Siemens announced it has acquired Corindus Vascular Robotics, manufacturer of robotic-assisted PCI systems, for $1.1 billion.

According to a press release issued by the companies, Corindus makes the only FDA-cleared and CE-marked robotic systems for endovascular coronary and peripheral interventions. The systems allow the operator to stand away from the angiography table, exposing them to less radiation.

The systems can also be operated from a remote site, according to a case report released in September in The Lancet’s EClinicalMedicine that documented the world’s first coronary procedures performed from a remote location.

“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 health care delivery so that, together, we can provide better care at lower cost,” Mark J. Toland, former president and CEO of Corindus, who will continue to manage the business within Siemens Healthineers, said in the release.

Doug Teany, COO of Corindus, who will also take a role within Siemens Healthineers, told Healio that Corindus had been looking for a partnership with a larger company, and that process eventually turned into acquisition talks with Siemens.

“This acquisition came as a result of great similarities and capability overlap,” Teany said in an interview. “They have roughly 50,000 employees in 70 countries, so from a commercialization standpoint, they have an extensive reach compared to what Corindus would have on its own. What comes with that is a very sophisticated service organization. A big part of this acquisition is about scaling the work that we’ve done and being able to support that work clinically and service that work without missing a beat. On the tech development side, a lot of what we do with vascular robotics is imaging-based, and Siemens is arguably the world’s largest expert on imaging-based technologies in the medical device industry. Having capabilities in remote robotics, autonomous navigation and artificial intelligence-prescriptive analytics is a partnership that is primed to accomplish some big things.”

Operators already using the technology should experience no changes in product offerings or services, and the products will continue to work with imaging systems not made by Siemens, Teany told Healio.

Reference:

Patel TM, et al. EClinicalMedicine. 2019;doi:10.1016/j.eclinm.2019.07.017.

For more information:

Doug Teany can be reached at Corindus Vascular Robotics, 309 Waverley Oaks Road, Suite 105, Waltham, MA 02452.

Disclosures: Toland and Teany were employees of Corindus Vascular Robotics and are now employees of Siemens.