Germany’s Siemens Healthineers has announced that it will be buying Corindus Vascular Robotics in an acquisition deal that will give it deeper access to the specialised healthcare technology market.
In a statement released by both companies, Siemens Healthineers said it will acquire Corindus for a transaction value of $1.1 billion.
The Massachusetts-based company makes robotic systems for minimally invasive vascular therapy procedures. its equipments allow doctors to guide catheters and stent implants with controlling modules.
According to its offer, Siemens Healthineers said it will pay $4.28 per Corindus share, above the $2.42 closing price of Corindus.
According to data compiled by Reuters, Corindus has 100 employees. The acquisition is coming a year after Siemens Healthineers listed its shares on the Frankfurt Stock Exchange.
However, the deal is expected to close by the end of the year.