WALTHAM, Mass.--(BUSINESS WIRE)--At a special meeting today, stockholders of Corindus Vascular Robotics, Inc. (NYSE American: CVRS) approved the adoption of the Agreement and Plan of Merger, dated as of August 7, 2019, by and among Siemens Medical Solutions USA, Inc., Corpus Merger Inc. and Corindus. Subject to the terms and conditions of the Merger Agreement, Merger Sub, a wholly owned subsidiary of SMS USA, will be merged with and into Corindus, with Corindus surviving the merger as a wholly owned subsidiary of SMS USA. The Company’s stockholders also approved the proposal to approve, on an advisory (non-binding) basis, specified compensation payable to the Company’s named executive officers in connection with the merger.
The parties anticipate that the transaction will close on October 29, 2019, and the parties intend that promptly thereafter Corindus will be delisted from the NYSE American. At the closing of the merger, the Company’s stockholders will receive: (i) $4.28 in cash, without interest, subject to any applicable withholding taxes, for each share of common stock of Corindus; and (ii) $85.60 in cash, without interest, subject to any applicable withholding taxes, for each share of Series A Convertible Preferred Stock of Corindus and for each share of Series A-1 Convertible Preferred Stock of Corindus, that they own immediately prior to the effective time of the merger.
About Corindus Vascular Robotics, Inc.
Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The Company’s CorPath® platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. CorPath GRX is the second-generation robotic-assisted technology offering enhancements to the platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. We are focused on developing innovative robotic solutions to revolutionize treatment of emergent conditions by providing specialized and timely medical care to patients around the world. For additional information, visit www.corindus.com, and follow @CorindusInc.
