In a recent acquisition, Corindus Vascular Robotics is now a part of Siemens Healthineers. The deal came into effect at the end of October 2019, and was valued at $1 billion. The company will join Siemens’ advanced therapies reporting segment.
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Corindus specializes in developing and producing robotic-assisted platforms. Currently, they have the only robotic system in the market for endo-vascular coronary and peripheral vascular interventions that is both FDA cleared and CE marked. The devices are built to assist physicians during surgical procedures by improving the control of guide catheters, balloons, wires and stent implants. Furthermore, it exposes the physician to less radiation by allowing them to perform the procedure with a controlling module.
According to iData Research’s analysis of surgical navigation and robotics, the use of robotics systems is associated with cutting-edge technology and improved procedural practices for both the general public eye and the medical sector. As a result, robotics companies are able to increase their exposure through media attention, while medical institutions are able to establish themselves as providing the most advanced care to patients by using robotic systems. The acquisition of Corindus expands Siemens Healthineers’ product portfolio in surgical robotics which carries a positive reputation from both a patient and physician perspective. Further R&D in this segment may drive positive growth in the overall surgical robotics and navigation market.
“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,” said Mark J. Toland, former President and Chief Executive Officer of Corindus.
Bernd Montag, CEO of Siemens Healthineers AG, stated that “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.” As robotic-assisted minimally invasive procedures have the potential to improve clinical outcomes through better precision and reduced treatment times, it is a market worth keeping a close eye on.
For Further Information
To get in an in-depth market overview, as well as insight through primary research and procedural volumes from 20 countries, please read iData Research’s’ 4,221 page Surgical Robotics and Navigation Market Analysis, Size, and Trend Report