Industry News

Corindus rebrands to Siemens Healthineers Endovascular Robotics

Corindus has been rebranded to Siemens Healthineers Endovascular Robotics and will sit as a dedicated business within the Advanced Therapies area of Siemens Healthineers, the company has announced.

This brand unification is the final step of the company integration process that commenced in 2019 with the acquisition of Corindus by Siemens Healthineers, the company says in a press release. The aim of the Endovascular Robotics business is to advance interventions with robotics and change the way that care is delivered through innovations that enhance physician technique and bring precision to interventional procedures, the press release adds.

Siemens Healthineers Endovascular Robotics says it will continue to offer the CorPath GRX system to support endovascular procedures while working to revolutionise treatment of emergent conditions by developing technologies to provide specialised and timely medical care to more patients around the world.

Wayne Markowitz, worldwide executive vice president of Siemens Healthineers and head of endovascular

Conference calendar

22–25 February

35th American Venous Forum (AVF) Annual Meeting San Antonio, USA venousforum.org/education/ venous2023

5–7 March

26th European Vascular Course (EVC) Maastricht, The Netherlands vascular-course.com robotics, said: “The completion of our brand evolution marks the final step to becoming a united company and we remain focused on pioneering breakthroughs for everyone, everywhere. Our flagship product, the CorPath GRX system, is designed to support endovascular interventions, and we look forward to working with our customers as Siemens Healthineers Endovascular Robotics while fuelling our vision to connect more patients to advanced care.”

Boston Scientific announces investment to acquire majority stake of Acotec Scientific

Boston Scientific has announced that it will make a partial offer to acquire a majority stake, up to a maximum of 65%, of shares of Acotec Scientific, a Chinese medical technology company that offers solutions designed for a variety of interventional procedures.

The proposed price is HK$20 per share, which represents a total upfront cash payment consideration of approximately US$523 million for the 65% stake at current exchange rates.

Acotec is a leader in medical solutions, including drug-coated balloons (DCBs), which are used in the treatment of vascular and other diseases.

In 2016, the company launched the

23–25 March IM Endo Forum –International Multidisciplinary Endovascular Forum Florence, Italy imendoforum.com

25–27 April

Charing Cross (CX) Symposium 2023 London, UK cxsymposium.com first peripheral DCB in China after receiving approval from the National Medical Products Administration. The Acotec portfolio also includes radiofrequency ablation technologies and thrombus aspiration catheters, as well as more than 20 other products in various stages of development across a range of specialties. In the 12-month period ending June 30, 2022, Acotec generated sales of RMB339 million (approximately US$53 million), growing 25% year-over-year in the first six months of 2022 with strong double-digit growth in each of the two years prior.

“Acotec is a profitable, fast-growing company with a strong portfolio and innovative pipeline of medical technologies, and we believe this investment will generate growth opportunities for both companies,” said Art Butcher, executive vice president and group president, MedSurg and Asia Pacific, Boston Scientific. “We expect completion of the partial offer to further strengthen our presence in China and create the potential for commercialisation of Acotec products globally, providing an increased number of physicians and patients access to our robust and complementary product portfolios.”

Boston Scientific expects the impact to adjusted earnings per share to be immaterial in 2023 and the impact to generally accepted accounting principles (GAAP) earnings per share to be less accretive, or dilutive, as the case may be, due to amortisation expense and acquisition-related net charges.

The completion of the transaction, which is anticipated in the first half of 2023, is subject to acceptance and approval by Acotec shareholders and other conditions set forth in related filings.

Abbott to acquire Cardiovascular Systems

Abbott and Cardiovascular Systems (CSI) have announced a definitive agreement for Abbott to acquire CSI. Under terms of the agreement, CSI stockholders will receive US$20 per common share at a total expected equity value of approximately US$890 million. CSI claims to be a leader in devices for atherectomy, the procedural use of which can help maximise the benefits of standard balloon angioplasty or stent treatments in restoring blood flow in complex arterial disease. CSI also has an early-stage pipeline of complementary vascular intervention devices in development.

“The acquisition of CSI will add new, complementary technologies to Abbott’s leading vascular device offerings,” said Lisa Earnhardt, executive vice president, Medical Devices, Abbott.

“We are pleased to have reached an agreement with a leading global company that shares our passion for the development and commercialisation of innovative solutions for treating complex peripheral vascular disease and coronary artery disease,” said Scott Ward, CSI’s chairman, president, and chief executive officer.

26–29 April

13th International Congress of the Vascular Access Society (VAS) Porto, Portugal vas2023.com

27–29 April

International Vein Congress (IVC) Miami Beach, USA ivcmiami.com/index.php

10–13 May Venous Symposium 2023 New York, USA venous-symposium.com

25–26 May Pacific Northwest Endovascular Conference (PNEC) 2023 Seattle, USA pnec-seattle.org

6–9 June

Leipzig Interventional Course (LINC) 2023 Leipzig, Germany leipzig-interventional-course.com

14–17 June

Society for Vascular Surgery (SVS) Vascular Annual Meeting 2023 National Harbor, USA vascular.org/vam-2023