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Philips will distribute Corindus robotic heart surgery system

Fri, 08/24/2012 - 12:00am
Mass High Tech: The Journal of New England Technology

Tiny medical device maker Corindus Vascular Robotics has scored an A-list partner - the company announced that Royal Philips Electronics (NYSE: PHG, AEX: PHI) has agreed to distribute Corindus’ first FDA-approved product, a robotic-assisted system for the minimally invasive treatment of obstructed coronary arteries, which is known as percutaneous coronary intervention (PCI). The financial details of the exclusive distribution agreement were not disclosed. Philips, whose Philips Healthcare division is headquartered in Andover, Mass., owns a minority share in Natick, Mass.-based Corindus.

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