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Corindus, Inc. was founded in Israel in 2002 by
Corindus, Inc. was founded in Israel in 2002 by Rafael Beyar
Rafael (Rafi) Beyar ( he, רפי ביאר) is an Israeli medical doctor, entrepreneur, and professor who is the eighth director of Rambam Health Care Campus since 1996. Beyar, an authority on interventional cardiology, also continues to practice in ...
, an interventional cardiologist, and his student at the Technion, Tal Wenderow. The company's original goal was to use remote control and robotics to move coronary guidewires and balloon/stent catheters.
Corindus Vascular Robotics, Inc. (NYSE: CVRS) was later moved to the United States to be headquartered in Waltham, Massachusetts
Waltham ( ) is a city in Middlesex County, Massachusetts, United States, and was an early center for the labor movement as well as a major contributor to the American Industrial Revolution. The original home of the Boston Manufacturing Company, th ...
. The company's FDA-cleared CorPath® System became the first medical device that allows interventionalists to manipulate guidewires and balloon/stents from an interventional cockpit.
The company went public in August 2014 and traded on the New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...
under the ticker symbol CVRS.
Under the leadership of CEO Mark Toland and CFO David Long, the company continued to grow and received additional clearances from the FDA. Investments in the development of next generation products and expanded regulatory clearances lead to the negotiation of a potential strategic transaction. In August 2019, Siemens Healthineers
Siemens Healthineers AG (formerly Siemens Healthcare, Siemens Medical Solutions, Siemens Medical Systems) is a German medical device company. It is the parent company for several medical technology companies and is headquartered in Erlangen, Germ ...
publicly announced its intention to acquire Corindus for $1.1 billion. The final transaction closed in October 2019, representing one of the largest MedTech deals in 2019.
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