Medical technology firm Siemens Healthineers has completed the acquisition of Corindus Vascular Robotics for around $1.1bn.

Siemens has included Corindus in the advanced therapies reporting segment.

Corindus is said to be one of the major companies that provide robotic treatment platforms for major vascular therapeutic markets.

Corindus former president and CEO Mark Toland said: “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.”

Corindus offers robotic treatment platform for major vascular therapeutic markets

Based in Waltham of Massachusetts, Corindus is involved in the development, production, and commercialisation of a robotic-assisted platform.

The company’s robotic system is an FDA cleared and a CE marked product for endo-vascular coronary and peripheral vascular interventions.

Corindus’ robotic system enables physicians to accurately guide catheters, guide wires, balloon or stent implants through integrated imaging.

CorPath GRX is the second-generation robotic-assisted technology designed to add key upgrades to the platform to enhance precision, improve workflow, and extend the capabilities for conducting a range of procedures robotically.

Siemens Healthineers CEO Bernd Montag said: “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. We are taking an important step forward in the upgrading phase of our 2025 strategy.”

Siemens Healthineers, which is the healthcare arm of German technology firm Siemens, provides products and services in the areas of diagnostic and therapeutic imaging, and in laboratory diagnostics and molecular medicine.

In December 2018, Siemens Healthineers invested $300m in the Walpole laboratory diagnostics manufacturing facility, located in the US state of Massachusetts.

The Walpole manufacturing and R&D facility involved in the production of laboratory diagnostics reagents and devices.