M&A Deal Summary

Siemens Healthcare Acquires Corindus Vascular Robotics

On August 8, 2019, Siemens Healthcare acquired medical products company Corindus Vascular Robotics from Consonance Capital Partners for 1.1B USD

Acquisition Highlights
  • This is Siemens Healthcare’s 3rd transaction in the Medical Products sector.
  • This is Siemens Healthcare’s largest (disclosed) transaction.
  • This is Siemens Healthcare’s 2nd transaction in the United States.
  • This is Siemens Healthcare’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2019-08-08
Target Corindus Vascular Robotics
Sector Medical Products
Buyer(s) Siemens Healthcare
Sellers(s) Consonance Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) Citigroup Investment Banking (Financial)
Cadwalader, Wickersham & Taft (Legal)

Target

Corindus Vascular Robotics

Waltham, Massachusetts, United States
website
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. We are focused on developing innovative robotic solutions to revolutionize the treatment of emergent conditions by providing specialized and timely medical care to patients around the world.

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Buyer(S) 1

Buyer

Siemens Healthcare

Erlangen, Germany

website

Category Company
Sector Healthcare Services
DESCRIPTION

Siemens Healthcare GmbH is a independently managed healthcare business of Siemens AG and enables healthcare providers around the world to meet their current challenges and to excel in their respective environments.

DEAL STATS #
Overall 5 of 5
Sector (Medical Products) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (Massachusetts) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-15 Fast Track Diagnostics

Esch-sur-Alzette, Luxembourg

Fast Track Diagnostics Ltd. is a provider of diagnostics tests that, unlike a clinical examination alone, can distinguish between viral, bacterial, or other infections in one test.

Buy -

Seller(S) 1

SELLER

Consonance Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Consonance Capital Partners is a healthcare-focused private investment firm focused on both public and private equity investing. The Firm's private equity group targets growth equity, leveraged buyouts, and recapitalization transactions in lower middle-market companies with $25 to $500 million of revenue. Specific areas of interest include healthcare providers, mayors, distribution, medical devices, specialty pharmaceuticals, outsourced services, and healthcare IT. Consonance Capital Partners was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 2 of 5
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 1 of 4
State (Massachusetts) 1 of 1
Country (United States) 2 of 5
Year (2019) 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-22 Sellers Dorsey & Associates

Philadelphia, Pennsylvania, United States

Sellers Dorsey & Associates LLC is a national Medicaid financing & strategic services firm with deep expertise and decades of experience working with Federal and State governments, safety-net hospital systems, health plans and others. Sellers Dorsey & Associates LLC was founded in 2000 and is headquartered in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 Enclara Healthcare

Philadelphia, Pennsylvania, United States

Enclara Healthcare is a major solutions provider focused on simplifying care delivery in chronic and complex care patient populations to improve patient experience, quality, and cost. Enclara Healthcare collaborates with healthcare organizations to drive value-based care through expertise, process, and technology.

Sell -
Mergr

Product

Company

Legal