J&J's Cordis Buys Flexible Stenting Solutions, No Terms Disclosed

Cordis Corporation, a worldwide leader in the development of interventional vascular technology, today announced it has completed the acquisition of Flexible Stenting Solutions, Inc., a leading developer of innovative flexible peripheral arterial, venous and biliary stents. Currently, Cordis markets the S.M.A.R.T.^® Vascular Stent worldwide. The addition of Flexible Stenting Solutions' FlexStent^® Self Expanding Stent System provides Cordis with the opportunity to evolve the S.M.A.R.T.^® Stent platform to address unmet needs in the treatment of peripheral artery disease (PAD). It also extends the company's potential to expand therapeutic applications into below-the-knee and venous interventions. An estimated 27 million people in Europe and North America alone suffer from PAD. “Cordis continues to identify opportunities to enhance its expanding portfolio of less invasive treatment options to address the needs of patients suffering from vascular disease worldwide,” said Shlomi Nachman, Company Group Chairman, Cordis Corporation. “This acquisition will enable Cordis to provide clinicians more options to meet their evolving therapeutic needs and to strengthen our leadership position in the treatment of vascular disease.” This acquisition marks another milestone in the company's strategy to strengthen its position in the endovascular market. Recently Cordis received superficial femoral artery (SFA) and proximal popliteal artery (PPA) indications for the S.M.A.R.T.^® Stent, the only stent approved in the U.S. for iliac, SFA and PPA vascular indications. In addition, Cordis offers market-leading endovascular technology platforms including percutaneous transluminal angioplasty balloons and chronic total occlusion crossing devices.