Cordis Corp., part of the Johnson & Johnson (JNJ: Quote) announced the completion of the acquisition of Flexible Stenting Solutions, Inc., a developer of innovative flexible peripheral arterial, venous and biliary stents. Terms of the acquisition were not disclosed.
Currently, Cordis markets the S.M.A.R.T. Vascular Stent worldwide. The addition of Flexible Stenting Solutions' FlexStent Self Expanding Stent System provides Cordis with the opportunity to evolve the S.M.A.R.T. Stent platform to address unmet needs in the treatment of peripheral artery disease or PAD.
The company said it also extends the its potential to expand therapeutic applications into below-the-knee and venous interventions. An estimated 27 million people in Europe and North America alone suffer from PAD.
by RTT Staff Writer
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