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Cordis Acquires Flexible Stenting Solutions, a Burrill Capital Fund IV Portfolio Company


Cordis Acquires Flexible Stenting Solutions, a Burrill Capital Fund IV Portfolio Company

SAN FRANCISCO, CA -- (Marketwire) -- 03/19/13 -- Cordis Corporation, a worldwide leader in the development of interventional vascular technology, said it has completed the acquisition of Flexible Stenting Solutions, Inc., a leading developer of innovative flexible peripheral arterial, venous, and biliary stents. Burrill & Company's Burrill Capital Fund IV is an investor in Flexible Stenting Solutions.

Currently, Cordis markets the S.M.A.R.T. Vascular Stent worldwide. The company said 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. It also extends the company's opportunity to expand therapeutic applications into below-the-knee and venous interventions. An estimated 27 million people in Europe and North America alone suffer from peripheral artery disease, which is caused by the build-up of fatty substances that collect and adhere to the linings of arteries.

David Wetherell, President of Burrill Healthcare Investment Funds, and Joshua Zelig, director of Burrill & Company, both served as directors on Flexible Stenting Solution's board. Terms of the acquisition were not disclosed.

"This acquisition represents a great fit for Cordis and FlexStent," said Wetherell. "This should help extend the reach of FlexStent's technology to patients with peripheral artery disease, as well as to others who can benefit from superior peripheral stenting. We are pleased, as well, to provide our investors with a healthy positive return less than 15 months from the effective date of the investment."

About Burrill & Company Founded in 1994, Burrill & Company is a diversified global financial services firm focused on the life sciences industry. With $1.5 billion in assets under management, the firm's businesses include venture capital/private equity, merchant banking, and media. By leveraging the scientific and business networks of its team, Burrill & Company has established unrivaled access and visibility in the life sciences industry. This unique combination of resources and capabilities enables the compan y to provide life sciences companies with capital, transactional support, management expertise, insight, market intelligence, and analysis through its investments, conferences, and publications. Headquartered in San Francisco, the company oversees a global network of offices throughout the United States, Latin America, Europe, and Asia. For more information visit: www.burrillandco.com.

Contact: Daniel Levine Managing Director Burrill & Company dlevine@b-c.com 415-591-5449

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