Deals and IPOs

Germany's Siemens Healthineers buys US firm Corindus for $1.1 billion

Key Points
  • The deal is Healthineers' biggest acquisition since its initial public offering last year.
  • Its offer price of $4.28 per share is above Corindus' $2.42 closing price on Wednesday.
An employee controls an angiography machine in the manufacturing plant of Siemens Healthineers.
Michaela Rehle | Reuters

Siemens Healthineers is buying Corindus Vascular Robotics for $1.1 billion, the companies announced on Thursday, in the biggest acquisition since the Siemens subsidiary listed on the stock exchange last year.

Germany's Siemens Healthineers is buying U.S. firm Corindus, which develops robotic systems for minimally invasive vascular therapy procedures, for $4.28 per Corindus share, above the $2.42 closing price of Corindus on Wednesday.

The systems produced by Corindus, which is based in Massachusetts with approximately 100 employees, allow doctors to guide catheters and stent implants with controlling modules.

The deal is expected to close by the end of the year.