Swiss-based medical technology company MedAlliance has announced acquisition by Cordis for $1.13 billion. Cordis will play a pivotal role in the marketing, distribution, and global accessibility of MedAlliance’s revolutionary Drug-Eluting Balloon, the company said in a statement.
MedAlliance has a manufacturing facility in the US and research and development centers in Switzerland and Singapore. The company specialises in the production of advanced drug-device combination products, initially tailored for coronary and peripheral artery diseases.
“This union represents a remarkable milestone in the realm of medical innovation, furthering our shared commitment to addressing global healthcare challenges. MedAlliance will also get help from global leader Cordis to revolutionise the healthcare through innovation,” Amit Bohora, an early MedAlliance partner said.
“MedAlliance has harnessed innovation to provide solutions like Sirolimus Drug Eluting Balloon, Selution SLR. This innovation ensures the effective delivery of the necessary medication while leaving nothing behind, revolutionizing the landscape of stent less PCI angioplasty,” Amit Bohora added.
“With over 100 million diabetic patients, India stands at the threshold of a medical technology revolution, a trillion-dollar opportunity. The Indian medical device industry is already valued at Rs 90,000 crore and is projected to surge to Rs 3.6 lakh crore by 2030,” Amit Bohora highlighted.