It is acquired by Cordis
MedAlliance, the Swiss-based medical technology company has announced the successful acquisition by Cordis, a transaction valued at USD 1.135 billion (Rs ~ 10,000 crores).
Cordis will play a pivotal role in the marketing, distribution, and global accessibility of this revolutionary Drug-Eluting Balloon.
Amit Bohora, an early MedAlliance partner, who helped steer this transaction from its inception to its conclusion, hails this acquisition as a testament to our unwavering dedication to serving patient benefit and humanity’s medical needs.
“MedAlliance, a pioneer in drug device combinations, has harnessed innovation to provide a ground-breaking solution – the patented Sirolimus Drug Eluting Balloon, Selution SLR. This innovation ensures the effective delivery of the necessary medication while leaving nothing behind, revolutionizing the landscape of stent less PCI angioplasty. With Cordis, a vanguard in the field that introduced CYPHER Drug-Eluting Stents in 1999, championing this innovation is the logical progression. MedAlliance’s years of research, coupled with ongoing and successful clinical studies in Asia, Europe and the United States, has resulted in CE mark approvals and four breakthrough US FDA IDE indications”, he added.
“With over 100 million diabetic patients, India stands at the threshold of a medical technology revolution, a trillion-dollar opportunity. The nation’s burgeoning healthcare sector not only fuels economic growth but also benefits from a positive funding environment. In a country boasting one of the world’s largest cardiovascular patient population, this is the next frontier of growth in healthcare. The Indian medical device industry, already valued at 90 Thousand Crore Rupees (11 Billion USD), is projected to surge to 3.6 Lakh Crore Rupees (44 Billion USD) by 2030, underscoring the immense potential and vitality of the healthcare landscape in India”, Bohora adds
“Amit has been a key contributor since foundation to MedAlliance’s business and he has been an intricate part of our success, advising management and leading the worldwide commercial team, as well as the Asian clinical team. He was responsible for several important studies, including leading the Indian coronary study used for CE mark approval and has assisted in fund raising and led the commercial transition of MedAlliance integration into Cordis”, said Jeffrey Jump, Founder, Chairman and CEO, MedAlliance.