WALTHAM, Mass. — Corindus Vascular Robotics Inc., a leading developer of precision vascular robotics, today announced that it has agreed to be acquired by Siemens Healthineers AG. Under the terms of the definitive merger agreement, Siemens Medical Solutions will acquire all issued and outstanding shares of common stock of Corindus for $4.28 per share in cash, representing an aggregate purchase price of approximately $1.1 billion.

Corindus Vascular Robotics said its CorPath platform is the first medical device cleared by the U.S. Food and Drug Administration (FDA) to bring robotic precision to percutaneous coronary and vascular procedures. The FDA also approved its software.

CorPath GRX is a second-generation robotic-assisted technology, and it includes upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically, said Coridnus.

Siemens Medical Solutions is a wholly owned subsidiary of Siemens Healthineers, a German stock listed company. A leader in medical technology, Siemens Healthineers said it is constantly innovating its portfolio of products and services in its core areas of diagnostic and therapeutic imaging and in laboratory diagnostics and molecular medicine. Siemens Healthineers is also actively developing its digital health services and enterprise services.