Through the merger agreement, Auris will pay $4 per share in cash, which the company says is approximately 39.9% over the closing sale price of the common stock of Hansen Medical as reported yesterday.
“Hansen Medical has developed a technology leadership position in the field of intravascular robotics. There remains a significant opportunity in flexible robotics and I am excited to combine with Hansen Medical to advance this market,” Auris CEO Dr. Fred Moll said in a prepared release.
Moll founded Hansen Medical in 2002 with an eye toward the intravascular space. Moll, a serial entrepreneur, also co-founded Mako Surgical, acquired in 2013 by Stryker Corp. and Restoration Robotics and its Artas hair restoration platform.
Mountain View, Calif.-based Hansen has a pair of platforms on the market: The Sensei system for electrophysiology procedures and the Magellan system for peripheral vascular interventions.
Redwood City, Calif.-based Auris is developing a surgical robot for ophthalmological procedures, but has not released any details surrounding the device. The acquisition will put 3 different robotic systems under Auris’ control.
“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,” Hansen Medical CEO Cary Vance said in prepared remarks.
As part of the deal, certain significant Hansen Medical stockholders said they will invest approximately $49 million into Auris upon the closing of the transaction, which is slated for mid-2016.
The company said that approximately 65.4% of Hansen stockholders, including executive officers and directors, have entered into voting agreements agreeing with the transaction.