Auris Surgical Robotics acquires Hansen Medical (NASDAQ:HNSN) for $4 per share (~$80M). The deal, expected to close by mid-year, includes a commitment from certain Hansen shareholders to invest ~$49M in Auris.
Both companies were founded by Frederic Moll who is Auris' current CEO and Hansen's CEO from 2002 to 2010.
Hansen develops intravascular robotic systems, as does Auris.
Thinly traded nano cap Hansen Medical (NASDAQ:HNSN) is up 23% premarket on increased volume in response to its announcement that the FDA approved its Magellan Robotic Catheter eKit, which gives physicians robotic control of third party microcatheters through the existing Magellan Robotic Catheter 6Fr architecture, thereby potentially reducing procedure times and radiation exposure.
Hansen Medical (HNSN -27.6%) retains Perella Weinberg Partners LP to advise the board on strategic alternatives that will enhance shareholder value. Options under consideration are a licensing transaction, business combination, partnership or the sale of part or all of the company itself.
CEO Cary Vance says, "Our board is focused on evaluating additional options that may enhance or accelerate the value the value we believe is inherent in an approved technology platform product, which has experienced growing utilization and an expanding breadth of clinical utility. Given our position as a leader in robotics technology, we believe now is the appropriate time to explore strategic alternatives."
Separately, board member Jack Schuler, a noted biotech investor, resigned from the board on January 12. He chose not to be a part of the process considering his large personal ownership stake in the company.