The acquisition will support Hansen Medical leveraging its Sensei(TM) Robotic Catheter system.
By RBR Staff
November 21, 2007
Hansen Medical, Inc. (Nasdaq:HNSN) has completed its acquisition of AorTx, Inc., an early stage developer of “percutaneous” or catheter-based valve technology.
The acquisition will support Hansen Medical leveraging its Sensei(TM) Robotic Catheter system, which is currently marketed for electrophysiology procedures, into the rapidly developing market for percutaneous heart valve therapy.
The financial terms of the acquisition include closing payments of 140,048 shares of Hansen Medical common stock and approximately $4.5 million in cash and Hansen Medical’s payment or cancellation at closing of approximately $1.0 million of AorTx liabilities. In addition, there are also possible milestone payments that total up to $15 million in Hansen Medical common stock and $15 million in cash upon the achievement of regulatory clearances and revenue and partnering milestones.
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