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Corindus Vascular Robots To Be Acquired By Siemens Healthineers For $1.1B

Tanzeel Akhtar

Corindus Vascular Robotics (NYSE: CVRS) shares are trading higher after the company announced it will be acquired by Siemens Healthineers AG for $4.28 per share in cash representing an aggregate purchase price of $1.1 billion.

The transaction has been approved by the board of directors of Corindus and is expected to close in the fourth quarter of 2019.

"We are pleased to have reached this agreement with Siemens Healthineers," said CEO Mark Toland.

"We believe the transaction will deliver immediate, compelling and certain value to all Corindus stockholders, as well as substantial benefits to our customers. The combination of Siemens Healthineers' advanced, high-quality imaging, digital and artificial intelligence tools with Corindus' precision robotics platform has the potential to transform the way healthcare is delivered to those suffering from cardiovascular or peripheral disease."

Corindus Vascular Robotics shares were trading up 76.86% at $4.28 in Thursday’s pre-market session. The stock has a 52-week high of $3.49 and a 52-week low of 78 cents.

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