MedAlliance

History

2023: Cordis bought MedAlliance

On October 2, 2023, Cordis, a manufacturer of equipment for the treatment of vascular diseases, announced the takeover of the Swiss firm MedAlliance. The transaction amount is approximately $1.1 billion.

MedAlliance specializes in the development and commercialization of combined therapeutic technologies designed to treat coronary artery disease and peripheral artery disease. The company has the Selution SLR DEB product for the controlled and prolonged release of the drug for up to 90 days. The technology involves the use of microreservars made from a biodegradable polymer mixed with sirolimus (rapamycin). The antiproliferative effect of sirolimus is used to prevent vascular restenosis after their stenting. The formation of a layer of polymerized rapamycin on the surface of the stents reduces the likelihood of plaque formation in the stened vessels and, therefore, prevents their re-narrowing during the recovery period after surgery.

MedAlliance SLR DEB

As part of the deal, Cordis provided MedAlliance with an investment of $35 million and made an advance payment of $200 million. In addition, under the terms of the contract, up to $125 million will be paid for product permits received from regulators. Commercial payments can reach $775 million until 2029. Thus, the total amount of the transaction is $1.135 billion.

Cordis introduced the first drug-eluting coronary stent on the market more than twenty years ago. Selution SLR DEB provides an opportunity to improve patient health and revolutionize the way clinicians provide care for vascular disease, said Ron Waksman, a cardiologist at Washington Hospital Center.[1]

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