Join Us On:

MedAlliance, Medical Device Startup, Acquired for $1.135Bn by Cordis USA

Their patented Sirolimus Drug Eluting Balloon, Selution SLR, is set to revolutionize stentless PCI angioplasty.

3 min read
MedAlliance, Medical Device Startup, Acquired for $1.135Bn by Cordis USA
Hindi Female

MedAlliance has played a vital role in shaping India's medical landscape. This Swiss-based medical technology company has remarkably enhanced the overall quality of healthcare services and ensured that the Indian healthcare system remains at the forefront of global medical advancements. As a shared commitment to address global healthcare challenges, Cordis acquired MedAlliance at a transaction value of USD 1.135 billion (Rs. ~ 10,000 Crores). This union represents a remarkable milestone in the realm of medical innovation.

Amit Bohora, an early MedAlliance partner, who diligently helped steer this transaction from its inception to its conclusion, said, "MedAlliance, a pioneer in drug device combinations, has harnessed innovation to provide a ground-breaking solution - the patented Sirolimus Drug Eluting Balloon, Selution SLR". He futher added, "This innovation ensures the effective delivery of the necessary medication while leaving nothing behind, revolutionizing the landscape of stent less PCI angioplasty. With Cordis, a vanguard in the field that introduced CYPHER Drug-Eluting Stents in 1999, championing this innovation is the logical progression".

In recognition of Bohara's contributions to MedAlliance, Jeffrey Jump, Founder, Chairman and CEO of MedAlliance said, “Amit has been a key contributor since the foundation of MedAlliance. He has been an intricate part of our success, by advising management and leading the worldwide commercial team and the Asian clinical team. He was responsible for several important studies, led the Indian coronary study used for CE mark approval, assisted in fund raising and led the commercial transition of MedAlliance integration into Cordis.".

At the core of this achievement lies MedAlliance's ground-breaking creation – the Sirolimus Drug-Eluting Balloon (DEB), renowned as Selution SLR. This transformative technology is poised to impact the lives of millions around the world.

“Amit has played an important role in creating and bringing to market an innovative technology that has a potential to serve millions of patients in this exciting era of Stentless Angioplasty. With first-hand experience coupled with impressive clinical outcomes, SELUTION SLR is a revolution in India, Japan and Europe. This technology has the distinct opportunity to change the treatment paradigm for patients suffering from Cardiovascular and Peripheral Disease” commented Dr. Praveen Chandra- Chairman - Interventional & Structural Heart Cardiology, Medanta Hospital, India.

MedAlliance has a manufacturing facility in the United States and cutting-edge research and development centers in Switzerland and Singapore. They specialize in pioneering technology and in the commercialization of advanced drug-device combination products, initially tailored for coronary and peripheral artery diseases. Currently, more than 1,700 patients, out of a planned 3,326, have been enrolled in a ground-breaking Coronary randomized controlled study, designed to compare SELUTION SLR with any limus Drug-Eluting Stent (DES). The aim is to demonstrate the superiority of SELUTION SLR DEB over DES which is the largest DEB study ever initiated and holds the potential to redefine medical practice. After a successful trial on humans in Asia, this ground-breaking product is being embraced by distinguished cardiologists and esteemed specialty hospitals in India and rest of the world. 40,000 patients worldwide have benefited from this technology.

Accolading Bohora's two decades of experience in healthcare and medical technology, Jeffrey B. Jump said, “Mr. Amit Bohora has been instrumental in vision of making this transformative technology accessible worldwide, as I am sure he will do for many companies in the future”.

"With over 100 million diabetic patients, India stands at the threshold of a medical technology revolution, a trillion-dollar opportunity. The nation's burgeoning healthcare sector not only fuels economic growth but also benefits from a positive funding environment. In a country boasting one of the world's largest cardiovascular patient population, this is the next frontier of growth in healthcare. The Indian medical device industry, already valued at 90 Thousand Crore Rupees (11 Billion USD), is projected to surge to 3.6 Lakh Crore Rupees (44 Billion USD) by 2030, underscoring the immense potential and vitality of the healthcare landscape in India." said Amit Bohora.

The acquisition of MedAlliance serves as an indomitable reminder that extraordinary products, when aligned with the noble mission of enhancing human lives, should be made universally available. Cordis will play a pivotal role in the marketing, distribution, and global accessibility of this revolutionary Drug-Eluting Balloon. As the company continues its journey toward securing US FDA Investigational Device Exemption (IDE) approvals, it stands on the precipice of delivering profound impact to millions of lives in the immediate future.

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

Read Latest News and Breaking News at The Quint, browse for more from brandstudio

Topics:  Acquisitions   Medical   Angioplasty 

Read More