In a groundbreaking move that promises to reshape the medical landscape in India and beyond, Cordis has acquired MedAlliance, a Swiss-based medical technology company, in a transaction valued at USD 1.135 billion (approximately Rs. 10,000 Crores). This union represents a significant milestone in medical innovation and aims to address global healthcare challenges effectively.
MedAlliance’s Innovative Contribution
MedAlliance has been a key player in transforming India’s medical landscape, bolstering the overall quality of healthcare services and keeping the Indian healthcare system on the cutting edge of global medical advancements. The company is renowned for its pioneering work in drug-device combinations, particularly the patented Sirolimus Drug-Eluting Balloon, known as Selution SLR. This innovation ensures effective medication delivery while leaving no residue, revolutionizing the field of stent-less PCI angioplasty.
Amit Bohora, an early MedAlliance partner who played a pivotal role in the acquisition, expressed his enthusiasm for collaborating with Cordis, a company known for introducing CYPHER Drug-Eluting Stents in 1999. He stated that championing this innovation is the logical progression for both companies.
In recognition of Amit Bohora’s contributions to MedAlliance, Jeffrey Jump, Founder, Chairman, and CEO of MedAlliance, has praised his instrumental role in the company’s success. Bohora had been instrumental in advising management, leading worldwide commercial and Asian clinical teams, conducting essential studies, and playing a significant role in the commercial transition of MedAlliance into Cordis.
The Transformative Technology: Selution SLR
MedAlliance’s pioneering creation, the Sirolimus Drug-Eluting Balloon, Selution SLR, is at the heart of this milestone. This transformative technology is poised to impact millions of lives worldwide positively.
Dr. Praveen Chandra, Chairman of Interventional and Structural Heart Cardiology at Medanta Hospital in India, highlighted the technology’s potential to revolutionize the treatment paradigm for patients suffering from Cardiovascular and Peripheral Disease. SELUTION SLR has already demonstrated impressive clinical outcomes in Asia and Europe, marking a significant step in the evolution of medical treatment for these conditions.
MedAlliance’s Global Presence
MedAlliance boasts a manufacturing facility in the United States and cutting-edge research and development centres in Switzerland and Singapore. The company specializes in pioneering technology and commercializing advanced drug-device combination products tailored for coronary and peripheral artery diseases. More than 1,700 patients have been enrolled in a groundbreaking Coronary randomized controlled study to compare SELUTION SLR with any limus Drug-Eluting Stent (DES), the most extensive DEB study ever initiated.
Healthcare Opportunities in India
Amit Bohora highlighted the immense potential and vitality of the healthcare landscape in India. With over 100 million diabetic patients and a booming healthcare sector, India presents a trillion-dollar opportunity in medical technology. The nation’s growing healthcare sector fuels economic growth and benefits from a positive funding environment. As one of the countries with the world’s largest cardiovascular patient populations, India is on the cusp of significant healthcare growth.
Universal Access to Extraordinary Products
The acquisition of MedAlliance by Cordis underscores the belief that extraordinary products aligned with the mission of enhancing human lives should be made universally accessible. Cordis is set to play a pivotal role in marketing, distribution, and ensuring the global accessibility of the revolutionary Drug-Eluting Balloon. As the company progresses toward securing US FDA Investigational Device Exemption (IDE) approvals, it stands on the brink of delivering a profound impact on millions of lives in the immediate future.
In summary, the acquisition of MedAlliance by Cordis represents a monumental step in medical innovation. This merger will undoubtedly pave the way for revolutionary advancements in medical technology, impacting millions of lives and ensuring that India’s healthcare system remains at the forefront of global healthcare innovation. The potential to redefine medical practice and provide accessible and innovative solutions to patients is a testament to these two leading companies’ shared vision and commitment.