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