Corindus Vascular Robotics goes public

Corindus Vascular Robotics raised $42 million last week by offering 11 million shares at $3.80 and going public on the NYSE MKT exchange, a special market for small-cap growth companies.

Corindus, which sells the CorPath robotic angioplasty system that aid stent placement during coronary angioplasties from the safety of a radiation-protected interventional work console, had previously been trading on the over-the-counter market.

Corindus joins other robotics-related publicly-traded healthcare companies such as Accuray, Cyberdyne, Mazor Robotics, Hansen Medical, Stereotaxis, Intuitive Surgical, Titan Medical, Stryker and Johnson & Johnson.

There has been much media attention recently to the stocks of robot manufacturers. Two items of particular interest are:

• A new book Robots. The New Era by Andrea Forni that is targeted to investors. The book first describes how robotics will become a key factor in the development of the global economy over the coming years, and how the spread of robots in the next 5-10 years will lead to a radical change in how millions of people live and work. The book then features many comparison tables and 50 analysis sheets of the main US, European and Asian robotic companies and their stocks.
• An article by Michael Robinson, These Robots Can Beat the Market by 100% in which the author lists a variety of robotics-related stocks and describes the Robo-stox Global Robotics & Automation Index, which he says is “clearly rooted in the hardware that defines the conventional robotics industry… and covers just about every conceivable robotics angle.”

Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.

Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.