Auris Surgical Robotics agreed on April 20 to acquire Hansen Medical for approximately $80 million.
Auris Surgical will pay $4.00 per share in cash, a nearly 40 percent premium over Hansen Medical’s closing share price on April 19, according to the companies. Hansen Medical’s shares were as high as $10.60 per share in June 2015.
Some Hansen Medical shareholders have also agreed to invest approximately $49 million into Auris Surgical when the transaction closes. The deal is expected to close in mid-2016 and is subject to customary closing conditions.
The companies said that holders of approximately 65.4 percent of Hansen Medical’s outstanding shares have agreed to vote in favor of the deal and support the transaction.
Hansen Medical, a leader in intravascular robotics for cardiac arrhythmia and endovascular procedures, develops the Magellan Robotic System, Magellan Robotic Catheters and related accessories that help place therapeutic devices.
Auris Surgical Robotics does not have any products on the market, but it describes itself as “building a platform technology capable of expanding the applicability of robotics to a spectrum of medical procedures.” Auris raised $150 million in September 2015, according to an SEC filing.
Frederic H. Moll, MD, Auris Surgical Robotics’ CEO, was a co-founder of Auris Surgical Robotics and Hansen Medical. Moll was Hansen Medical’s CEO from 2002 to 2010.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.