Cordis to acquire Switzerland-based MedAlliance
Cordis, a worldwide leader in the development and manufacturing of interventional cardiovascular and endovascular technologies, announced its acquisition, subject to customary closing conditions including regulatory approvals, of MedAlliance, a Switzerland-based company at the forefront of transformative drug-eluting balloons. By acquiring MedAlliance, Cordis has the potential to serve two million patients globally by 2027 with the SELUTION SLR (Sustained Limus Release) drug-eluting balloon. The agreement includes an initial investment of $35 million and $200 million payment upon closing in 2023, regulatory achievement milestones up to $125 million and commercial milestones up to $775 million through 2029. Cordis will immediately begin co-promotion of MedAlliance
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