In a groundbreaking development, Swiss-based medical technology company, MedAlliance, has been successfully acquired by Cordis, marking a momentous transaction valued at USD 1.135 billion (approximately Rs. 10,000 Crores). This acquisition signifies a remarkable milestone in the realm of medical innovation, furthering the shared commitment to addressing global healthcare challenges.
Amit Bohora, an early partner of MedAlliance, played a pivotal role in steering this transaction from inception to its successful conclusion. He views this acquisition as a testament to their unwavering dedication to serving patient benefit and humanity’s medical needs.
MedAlliance, known for pioneering drug-device combinations, introduced the groundbreaking Sirolimus Drug Eluting Balloon, Selution SLR. This innovation ensures the effective delivery of necessary medication while leaving nothing behind, revolutionizing the landscape of stent-less PCI angioplasty. With Cordis, a leading player in the field that introduced CYPHER Drug-Eluting Stents in 1999, championing this innovation is the logical progression. MedAlliance’s extensive research and successful clinical studies across Asia, Europe, and the United States have resulted in CE mark approvals and four breakthrough US FDA IDE indications.
Jeffrey Jump, Founder, Chairman, and CEO of MedAlliance, acknowledged Amit Bohora’s instrumental role in the company’s success, from advising management to leading the worldwide commercial and Asian clinical teams, contributing to vital studies, fund-raising, and the smooth integration of MedAlliance into Cordis.
At the core of this achievement lies MedAlliance’s groundbreaking creation – the Sirolimus Drug-Eluting Balloon (DEB), renowned as Selution SLR, poised to impact the lives of millions around the world.
The acquisition of MedAlliance by Cordis marks a significant step towards making transformative medical technologies accessible worldwide and holds the potential to reshape medical practice. With the Indian medical device industry projected to surge to 44 billion USD by 2030, India stands at the forefront of a medical technology revolution, promising immense potential and vitality in the healthcare landscape.
