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Siemens Healthineers has signed an agreement to acquire Corindus Vascular Robotics in a deal worth $1.1 billion, which is expected to be completed by the end of the year.

The strategic decision by Siemens to takeover Corindus will allow the company to add robotic treatment platforms to its portfolio of services, to assist with minimally invasive surgeries.

In particular, Corindus’ robotic systems aid doctors’ control and guide catheters, guide wires and stent implants through integrated imaging.

CEO of Siemens Healthineers, Bernd Montag, said: “Together with Corindus, Siemens Healthineers is well-positioned to be one of the leading players in the field of robotic vascular interventions and to perform minimally invasive procedures more accurately, more quickly and more effectively. With this acquisition, we are opening up a new field for our image-guided therapies business. Together with our strong portfolio in imaging, digitalisation and artificial intelligence, we are creating significant synergies to advance therapy outcomes.”

Adding to this, president and CEO of Corindus Mark Toland commented: “The collaboration with Siemens Healthineers is a unique opportunity to take our business to the next level and continue our success story. Together we plan to develop next-generation solutions that further improve patient care.”

The acquisition will allow for Siemens to expand its services in the coronary, peripheral vascular and neurovascular interventions market, with the potential to grow its portfolio in countries across the world.

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