The $1.1bn acquisition of drug-eluting balloon developer MedAlliance will help Cordis return to its roots as an innovative leader in interventional cardiology.

During Q4, biopharma merger and acquisition value reached $35.7bn and drew in $62.1bn in potential deal value from alliances. Device company M&A values reached $19.2bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $4.8bn.

Medtech Insight followed-up with Cordis CEO Shar Matin to talk about the company’s path forward as an innovative intervention company following the acquisition of MedAlliance.

Cordis plans to acquire MedAlliance, the developer of the Selution SLR drug-eluting vascular balloon, for up to $1.135bn. As part of the deal, Cordis will immediately begin to co-promote Selution SLR in every market where it is available.