October 2, 2023- — Swiss-based medical technology company MedAlliance has been acquired by Cordis for a 2022 investment of $35M and a 2023 upfront closing payment of $200M, together with regulatory achievement milestones of up to $125M and commercial milestones of up to $775M through 2029, for a total consideration of up to $1.135 Billion.
Cordis is a worldwide leader in the development and manufacture of interventional cardiovascular and endovascular technologies. MedAlliance’s innovative and revolutionary sustained sirolimus drug-eluting balloon (DEB) program, SELUTION SLR™ (Sustained Limus Release), has provided a flagship product family which complements Cordis’ existing product portfolio, together with their sales, marketing and distribution expertise.
Cordis customers will benefit from the extensive clinical study program and publication plan that have been executed by MedAlliance to further Cordis’ heritage of bringing innovative products to patients. SELUTION SLR was awarded CE Mark Approval for the treatment of peripheral artery disease in February 2020 and for the treatment of coronary artery disease in May 2020. MedAlliance was the first drug-eluting balloon company to receive FDA Breakthrough Designation status.