Hansen Medical Agrees to Be Acquired by Auris Surgical

Thursday, April 21, 2016

Hansen Medical Inc. agreed to be acquired by Auris Surgical Robotics Inc. in a deal with an equity value of roughly $80 million.

The Mountain View, Calif., company’s rose 40% to $3.99 in recent premarket trading, reflecting the offer price of $4 a share. Through Tuesday’s close, the stock had declined 69% in the past 12 months.

Certain Hansen shareholders also have agreed to invest roughly $49 million in Auris Surgical when the deal closes, which is expected mid-2016.

Both Hansen and Auris were co-founded by industry veteran Frederic Moll, who is Auris’s chief executive and was Hansen’s CEO from 2002 to 2010, according the Auris’s website.

“Hansen Medical has developed a technology leadership position in the field of intravascular robotics,” Mr. Moll stated in prepared remarks on Wednesday. “There remains a significant opportunity in flexible robotics and I am excited to combine with Hansen Medical to advance this market.”

Intravascular robotics involve technology to position, monitor and control catheters and related products.

The deal comes after Hansen in January said it was exploring its strategic alternatives including a licensing transaction, a partnership or a possible sale of the company. Hansen has posted mostly losses in recent years.

 

Source : wsj.com