Hansen completes AorTx acquisition for $4.5M
Hansen Medical has completed its acquisition of AorTx, an early stage developer of percutaneous technology, for $4.5 million in cash and additional stocks.
The acquisition will support Hansen leveraging its Sensei robotic catheter system, currently marketed for electrophysiology procedures, into the market for percutaneous heart valve therapy, according to the Mountain View, Calif.-based Hansen.
The financial terms of the acquisition include closing payments of 140,048 shares of Hansen common stock and approximately $4.5 million in cash and Hansen’s payment or cancellation at closing of approximately $1 million of the Redwood City, Calif.-based AorTx liabilities. Also, there also are possible milestone payments that could total up to $15 million in Hansen common stock and $15 million in cash upon the achievement of regulatory clearances and revenue and partnering milestones.
The acquisition will support Hansen leveraging its Sensei robotic catheter system, currently marketed for electrophysiology procedures, into the market for percutaneous heart valve therapy, according to the Mountain View, Calif.-based Hansen.
The financial terms of the acquisition include closing payments of 140,048 shares of Hansen common stock and approximately $4.5 million in cash and Hansen’s payment or cancellation at closing of approximately $1 million of the Redwood City, Calif.-based AorTx liabilities. Also, there also are possible milestone payments that could total up to $15 million in Hansen common stock and $15 million in cash upon the achievement of regulatory clearances and revenue and partnering milestones.