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November 29, 2011

Hansen Medical Enters Stock Purchase Agreement to Raise a Fund Worth $10 Million



Rapid development of advanced robotics and computing technologies has been affecting our lives in a number of ways that couldn’t be imagined some time ago. Robotics, for example, has been playing a vital role in the field of health and wellness by enabling the doctors and other medical professionals to carry out complicated and difficult surgical operations with much higher levels of efficiency and accuracy than what could be achieved without them.

Hansen Medical, Inc., a Mountain View, California based provider of products that deploy advanced robotics for accurate positioning, manipulation and control of catheters and catheter based technologies, has entered into a stock purchase agreement to raise a fund worth around $10 million. The agreement has been signed for the sale of common stock at a price of $2.09 per share in a private placement transaction with existing shareholders, Oracle Partners, L.P., and Jack W. Schuler.

The Sensei X Robotic Catheter System and Artisan Control Catheter developed by Hansen Medical had been cleared by the U.S. Food and Drug Administration (FDA) for manipulation and control of certain mapping catheters in electrophysiology (EP) procedures. Apart from offering compatibility with fluoroscopy, the Sensei robotic catheter system supports ultrasound, 3D surface map and patient electrocardiogram data as well. As the Sensei System has not been approved for use in guiding ablation procedures within the U.S., this clearance has been made on an experimental basis. Additionally, the Magellan Robotic System, NorthStar Robotic Catheter and related accessories have been assessed for conformity, CE marked and have been made available on commercial basis within the European Union. These products enable navigation to anatomical targets in the peripheral vasculature and subsequently provide a conduit for manual placement of therapeutic devices.

“I am pleased to announce this private placement with two highly-respected investors who have been associated with many very successful healthcare companies, as we continue to strengthen our balance sheet and improve our capital structure,” commented Bruce Barclay, president and chief executive officer at Hansen Medical.

Previously this month, Hansen Medical, Inc. announced first clinical uses of the Magellan Robotic System by Professor Nick Cheshire, M.D. and the medical team at St. Mary's Hospital in the treatment procedure for Peripheral Vascular Disease  (PVD). The Magellan Robotic System leverages a proprietary technology which allows distal tip control of a catheter and a sheath and offers standard guidewire manipulation of the robotic system via a centralized, remote workstation.


Arvind Arora is a contributing editor for HealthTechZone. To read more of Arvind's articles, please visit his columnist page.

Edited by Rich Steeves
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