MedAlliance, a pioneering medical device startup, acquired by US-based Cordis in a landmark $1.135 billion deal | spcilvly

(Geneva, Switzerland, October 6, 2023) – MedAlliance, the visionary Swiss-based medical technology company, is pleased to announce the successful acquisition by Cordis, a transaction valued at $1,135 million (Rs. ~10 000 crore). This union represents a notable milestone in the field of medical innovation, and furthers our shared commitment to addressing global healthcare challenges.

Amit Bohora, one of MedAlliance’s earliest partners, who diligently helped shepherd this transaction from inception to completion, hails this acquisition as a testament to our unwavering dedication to serving patient benefit and the medical needs of humanity.

“MedAlliance, a pioneer in drug device combinations, has leveraged innovation to provide a breakthrough solution: the patented Sirolimus drug-eluting balloon, Selution SLR. This innovation ensures the effective delivery of the necessary medication without leaving anything behind, revolutionizing the landscape of stentless PCI angioplasty. With Cordis, a vanguard in the field that introduced CYPHER drug-eluting stents in 1999, championing this innovation is the logical progression. MedAlliance’s years of research, coupled with successful and ongoing clinical studies in Asia, Europe and the United States, has resulted in CE mark approvals and four IDE breakthrough indications from the US FDA.” quotes Mr. Amit Bohora.

“Amit has been a key contributor since the founding of the MedAlliance business and has been an intricate part of our success, advising management and leading the global commercial team as well as the Asian clinical team. He was responsible for several major studies, including leading the Indian coronary study used for CE mark approval and assisted in fundraising and led the commercial transition of the integration of MedAlliance into Cordis.” said Mr. Jeffrey Jump, Founder, President and CEO of MedAlliance.

At the center of this achievement is MedAlliance’s innovative creation: the sirolimus drug-eluting balloon (DEB), known as the Selution SLR. This transformative technology is poised to impact the lives of millions of people around the world.

“I have known Amit for over two decades and he has played an important role in creating and commercializing an innovative technology that has the potential to serve millions of patients in this exciting era of stentless angioplasty. With first-hand experience along with impressive clinical results, SELUTION SLR in India, Japan and Europe. This technology has a clear opportunity to change the treatment paradigm for patients suffering from cardiovascular and peripheral diseases,” said Dr. Praveen Chandra, Chair of Structural and Interventional Cardiac Cardiology, Medanta Hospital, India.

MedAlliance, with its manufacturing facilities in the United States and state-of-the-art research and development centers in Switzerland and Singapore, specializes in pioneering technology and the commercialization of advanced drug and device combination products, initially designed for coronary heart and peripheral arterial diseases. Currently, more than 1,700 patients, out of a planned total of 3,326, have been enrolled in an innovative randomized controlled coronary study designed to compare SELUTION SLR with any limus drug-eluting stent (DES), with the goal of demonstrating the superiority of SLR SELECTION DEB on DES. SELUTION DeNovo, the largest DEB study ever initiated, has the potential to redefine medical practice. Furthermore, after the success of human trials in Asia, this innovative product is being adopted by distinguished cardiologists and esteemed specialty hospitals in India and the rest of the world. 40,000 patients around the world have benefited from this technology.

“With over two decades of experience in healthcare and medical technology, spanning strategy, research and business, Mr. Amit Bohora has been instrumental in the vision of making this transformative technology accessible worldwide, as I am sure it will do so for many companies in the world. future,” said Jeffrey B. Jump, founder, president and CEO of MedAlliance.

“With more than 100 million diabetic patients, India stands on the threshold of a revolution in medical technology, a trillion-dollar opportunity. The country’s burgeoning healthcare sector not only drives economic growth but also benefits of a positive financing environment. In a country that boasts one of The Indian medical devices industry, which is already valued at Rs 90 billion ($11 billion), is expected to rise to Rs 3.6 lakh crore of rupees ($44 billion) by 2030, underlining the immense potential and vitality of the healthcare landscape in India.” added Mr. Amit Bohora.

The acquisition of MedAlliance serves as an indomitable reminder that extraordinary products, when aligned with the noble mission of improving human life, must be universally available. Cordis will play a key role in the global commercialization, distribution and accessibility of this revolutionary drug-eluting balloon. As the company continues its path toward obtaining Investigational Device Exemption (IDE) approvals from the US FDA, it is on the verge of making a profound impact on millions of lives in the immediate future.

For media inquiries please contact: Richard Kenyon rkenyon@medalliance.com

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