Philips and Corindus join forces in the field of advanced robotic-assisted systems for interventional cardiology


WEBWIRE – Thursday, April 21, 2011

Amsterdam, The Netherlands and Natick, USA – Royal Philips Electronics (NYSE: PHG, AEX: PHI) and Corindus Inc. today announced an alliance agreement to add Corindus’ robotic-assisted system for the minimally invasive treatment of obstructed coronary arteries (also known as percutaneous coronary interventions) to Philips’ interventional cardiology solutions.

Corindus’ innovation focus on robotic-assisted systems for interventional cardiology procedures complements Philips’ expertise and leadership in interventional imaging and clinical informatics. As part of the alliance agreement, Philips has acquired a minority stake in Corindus. The financial terms of the agreement were not disclosed.

The trend towards image-guided minimally invasive interventions continues to grow, requiring image guidance and catheter controls that enable physicians to optimally perform their procedures. Procedure innovation, driven by the combination of advanced imaging tools, new interventional devices and improved delivery controls, is aimed at simplifying the procedures and facilitating instantly informed decision making, while further reducing discomfort to the patient and the physician.

“Personalized and less invasive treatments are the way forward in patient care,” said Steve Rusckowski, CEO for Philips Healthcare. “As part of our strategy, Philips is committed to delivering integrated interventional solutions for image-guided minimally invasive procedures by working closely with hospitals and industrial partners in different application spaces. Corindus’ advanced interventional tool designed for percutaneous coronary interventions opens up further possibilities of reducing the strain on cardiologists, helping to advance patient care.”

“Everything in the catheterization lab, from X-ray imaging to coronary stents to contrast media, has advanced significantly over the past thirty years. However, the procedural process itself has remained largely unchanged,” said David Handler, President and CEO of Corindus. “We are excited by the possibility of putting the power of remote precision robotic control into the hands of interventional cardiologists. Partnering with Philips will strengthen our ability to develop integrated technologies, with the ultimate objective of advancing interventional cardiology.”

Corindus’ CorPath 200 System* has been designed to provide precise, robotic-assisted placement of coronary guidewires and stent/balloon catheters in percutaneous coronary intervention (PCI) procedures. In March of this year, Corindus announced that the first patients had been enrolled in its FDA approved CorPath PRECISE trial, which is expected to enlist 175 patients at leading medical centers across the United States. The results of this study will be the basis for a pre-market clearance 510(k) application to the FDA.


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* The CorPath 200 System is an investigational device and limited by federal law to investigational use only. CorPath is a registered trademark of Corindus Inc.

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity.” Headquartered in the Netherlands, Philips employs about 117,000 employees with sales and services in more than 100 countries worldwide. With sales of EUR 22.3 billion in 2010, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.

About Corindus

Corindus (http://www.corindus.com) is the global technology leader in robotic-assisted percutaneous coronary interventions. The Company’s CorPath® 200 System is the first medical device that offers interventional cardiologists complete PCI procedure control from an interventional cockpit. The CorPath open-platform technology and intellectual property will enable Corindus to address other segments of the vascular market, including peripheral, neuro and structural heart applications.



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