Philips, Corindus Collaborate

4/21/11Follow @xconomy

Royal Philips Electronics and Natick, MA-based Corindus announced today that they will collaborate to use Corindus’ minimally invasive, robotics-based treatment for blocked arteries in Philips’ cardiology products. Philips has acquired a minority stake in Corindus as a result of the deal, whose financial terms were not disclosed. “As part of our strategy, Philips is committed to delivering integrated interventional solutions for image-guided minimally invasive procedures by working closely with hospitals and industrial partners in different application spaces,” said Steve Rusckowski, CEO for Philips Healthcare in a press release.

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