Hansen Medical Agrees To Sell Itself To Auris Surgical Robotics For A 40% Premium

by Jayson Derrick

April 20, 2016 1:40 PM | 1 min read | Make a Comment

Hansen Medical, Inc.HNSN

, a developer and marketer of medical robotic devices,

announced on Wednesday that it has agreed to sell itself to Auris Surgical Robotics for $4.00 per share, representing a 39.6 percent premium to Tuesday's closing price. Auris Surgical is a technology company that combines advancements in medical robotics, instrumentation, navigation and data science. The company is building a platform technology that it expects to expand the applicability of robotics to a spectrum of medical procedures. As part of the transaction, certain significant shareholders of Hansen Medical have agreed to invest a further $49 million into Auris. The transaction is expected to close in mid-2016 and has been approved by all executive officers and directors of Hansen Medical. "We are pleased with this outcome, which we believe maximizes value for our shareholders. The combined capabilities of Auris and Hansen Medical will accelerate the proliferation of medical robotics to advance patient care," said Cary Vance, President and CEO of Hansen Medical. "Hansen Medical has developed a technology leadership position in the field of intravascular robotics," commented Dr. Fred Moll, Chief Executive Officer of Auris. "There remains a significant opportunity in flexible robotics and I am excited to combine with Hansen Medical to advance this market."

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