October 31, 2019
Cadwalader advised Corindus Vascular Robotics, Inc. (NYSE American: CVRS) on its acquisition by a subsidiary of Siemens Healthineers AG in a transaction valued at $1.1 billion.
Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The Company’s CorPath® platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. CorPath GRX is the second-generation robotic-assisted technology offering enhancements to the platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. The company is focused on developing innovative robotic solutions to revolutionize treatment of emergent conditions by providing specialized and timely medical care to patients around the world.
Siemens Healthineers enables healthcare providers worldwide to increase value by empowering them on their journey towards expanding precision medicine, transforming care delivery, improving patient experience and digitalizing healthcare. A leader in medical technology, Siemens Healthineers generated revenue of €13.4 billion and adjusted profit of €2.3 billion in fiscal 2018 and has about 50,000 employees worldwide.
The Cadwalader team was led by Corporate partners Christopher Cox, Gregory Patti and William Mills, special counsel Nick Ramphal and associates Peter Bariso and Daniel Shiner; Executive Compensation & Benefits partner David Teigman and associate Nicholas LaSpina; Antitrust partner Joel Mitnick and counsel Ngoc Pham Hulbig; and Tax partner Linda Swartz and associate Matthew Seitz.