Johnson & Johnson's stenting arm, Cordis Corp. furthers its turn away from coronary stents toward the endovascular market with the acquisition of Flexible Stenting Solutions for an undisclosed amount.
Cordis Corp., the stent-making arm of healthcare colossus Johnson & Johnson (NYSE:JNJ), said it's acquired Flexible Stenting Solutions as part of turning its back on the coronary stents market in favor of the endovascular arena.
Bridgewater, N.J.-based Cordis didn't reveal the purchase price or any details for its buyout of FSS, which makes the FlexStent self-expanding stent. Cordis said the deal is a chance to expand its reach into the peripheral artery disease and, potentially, into the below-the-knee and venous intervention markets.
FSS first won CE Mark approval in the European Union in January 2009 for its FlexStent self-expanding stent to treat vascular disease, which was later expanded to include additional sizes. Later in 2009 the FlexStent device won 510(k) clearance from the FDA later that year for treating malignant bile duct tumors.