Corindus Vascular Robotics, a developer of precision vascular robotics, has raised approximately $26.6 million through a Securities Purchase Agreement pursuant.
Corindus will issue and sell to certain accredited investors an aggregate of 10,666,570 shares of its common stock in a private placement at a purchase price of $2.50 per share, resulting in aggregate gross proceeds of approximately $26.6 million.
?This funding will enable expansion of our sales team and product commercialization, and continued investment in product innovation,” says David M. Handler, CEO, Corindus. “We are also committed to advocating for interventional cardiologists by focusing on the key issues and concerns that impact them in the cath lab, such as the importance of precision in performing coronary angioplasties and protection from occupational hazards such as radiation exposure to both physicians and their patients.?
Corindus has agreed to file a registration statement covering the resale of all shares issued in the private placement. Cowen and Company and Stifel, Nicolaus & Company acted as placement agents for the transaction.
Corindus is known for its FDA-approved CorPath System, which it calls the first robotic system to offer interventional cardiologists precise procedure and stent control during vascular interventions. The CorPath system consists of two components: a bedside unit and an interventional cockpit.
The radiation-shielded cockpit features a simple-to-use control console to precisely control the movement of guidewires and balloon/stent catheters. Using joysticks and touchscreen controls, the physician is able to measure anatomy length to select the appropriate stent. The bedside unit is the ?engine? of the system that translates your commands into precise movements and manipulations of the coronary stents and catheters.
Healthcare Robotics 2014 Research Report
Healthcare in the U.S. is approaching $4 trillion annually. To support, enhance, and mitigate the healthcare burdens, our healthcare system is witnessing robotic medical technology entering hospital surgical suites, in-patient rooms, in-home patient care, and uses with emergency services and vehicles.
Robotics Business Review’s special report “Healthcare Robotics 2014” analyzes new developments, trends, challenges and opportunities in the medical robotics sector.
The report profiles leading healthcare robotics companies, features exclusive Q&As with leading executives, discusses the impact of the Affordable Care Act, and examines surgical robotics, robotic replacement for diminished or lost function, exoskeletons, robot-assisted recovery and rehabilitation, and personalized care for the elderly.
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