Philips and Corindus announce distribution agreement to sell Corindus' robotic-assisted interventional cardiology system in the United States
AMSTERDAM and NATICK, Mass., Aug. 23, 2012 /PRNewswire/ -- Royal Philips Electronics (NYSE: PHG, AEX: PHI) and Corindus Vascular Robotics  today announced a distribution agreement for Corindus' CorPath® 200 System. The system was recently cleared by the United States Food and Drug Administration (FDA) and is the world's first robotic-assisted system for the minimally invasive treatment of obstructed coronary arteries in patients with Coronary Artery Disease (CAD), a procedure that is also known as Percutaneous Coronary Intervention  (PCI). The financial details of the exclusive distribution agreement were not disclosed. Philips, a leader in interventional imaging, owns a minority share in Corindus Vascular Robotics, which commercializes robotic-assisted systems for interventional cardiology procedures.
The CorPath 200 System can be integrated with all major X-ray fluoroscopy systems including Philips' Allura X-ray equipment . The robotic-assisted system is a compact and cost-efficient system that can be used with standard stents, catheters and guidewires. The distribution agreement enables both companies to sell this unique robotic-assisted system in the United States, addressing an immediate need of patients, interventional cardiologists and staff. This agreement is the next step in the alliance between Philips and Corindus, which was announced in 2011.
"Robotic-assisted interventional technologies have great potential to further improve current image-guided minimally invasive procedures, which is a fast growing market with for example more than on