J&J Subsidiary Cordis Buys Flexible Stenting Solutions
Johnson & Johnson interventional vascular technology subsidiary Cordis has finished its acquisition of stent maker Flexible Stenting Solutions. Financial terms of the deal weren't disclosed, according to a Tuesday press release from J&J.
Cordis currently produces and markets the SMART self-expanding vascular stent and recently won regulatory approval to expand its use in other arteries. Flexible Stenting Solutions' FlexStent, another self-expanding stent, will allow Cordis to field a product to treat peripheral artery disease (PAD), a condition that affects an estimated 27 million patients in Europe and North America.
The FlexStent won CE Mark approval in Europe in 2009, winning FDA clearance later in the year. Johnson & Johnson expects also to apply for U.S. regulatory approval to use the FlexStent to treat superficial femoral artery disease.
The article J&J Subsidiary Cordis Buys Flexible Stenting Solutions originally appeared on Fool.com.Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.