According to massdevice, on July 28th, Hansen Medical (NSDQ: HNSN) announced the completion of a $80 million merger with Auris Surgical Robotics, which was approved by shareholders last week.
According to documents submitted to the SEC by Hansen Medical, Hansen Medical will become a wholly-owned subsidiary of Auris. Through the merger agreement, Auris will pay in cash at a price of $4 per share, which is about 39.9% of the closing price of Hansen Medical's common stock.
According to previous news reports, Auris and Hansen Medical were founded by Dr. Fred Moll. Auris is the fourth surgical robot company founded by Moll. In 2002, Fred Moll founded Hansen Medical. Moll has also co-founded Mako Surgical (acquired by Stryker Corp in 2013), Restoration Robotics and its Artas hair restoration platform. Another co-founder, Intuitive Surgical ($ISRG), produced the famous Da Vinci surgical robot.
Cary Vance, former CEO of Hansen Medical, and Cristopher Lowe, CFO, will leave with the merger. Instead, Moll will return to the office he originally founded.
Hansen Medical, based in Mountain View, Calif., currently has two platforms on the market: the Sensei system for electrophysiological procedures and the Magellan system for peripheral vascular intervention.
Auris, based in Redwood City, Calif., is developing an eye surgery robot, but has not announced any details of the device. The transaction will allow three different types of surgical robots to be controlled by Auris.
As part of the deal, some of Hansen Medical's key shareholders said they would invest about $49 million in Auris after the deal.
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