Corindus Vascular Robotics Announces Private Placement for $45 Million

Financing Supports Launch Momentum of Next-Generation CorPath GRX System

WALTHAM, MA — FEBRUARY 28, 2017 — Corindus Vascular Robotics, Inc. [NYSE MKT: CVRS], a leading developer of precision vascular robotics, announced today that it has entered into a Securities Purchase Agreement pursuant to which it will issue and sell an aggregate of 67,941,346 shares of its common stock in a private placement at a purchase price of $0.6616 per share, resulting in aggregate gross proceeds to the Company of approximately $45,000,000. The closing of the transaction, which is subject to customary closing conditions, is expected to occur on or before March 15, 2017.

Corindus intends to use the proceeds of the offering for general corporate purposes including global commercialization of its recently FDA-cleared next-generation CorPath^® GRX System to capitalize on the potential $4.5 billion worldwide vascular robotics market.(1) Corindus is currently the only company developing and offering robotic solutions for coronary and peripheral vascular interventions performed in cath labs. The Company believes this offering will enable it to fund ongoing growth and will enhance the Company’s ability to optimize the potential of its new products and capabilities.

The financing round involved a syndicate of top tier healthcare investors. New investors include Boston Scientific Corporation [NYSE: BSX], a leading worldwide developer, manufacturer and marketer of medical devices; BioStar Ventures, a strategic venture capital partnership of key interventional cardiologists focused on accelerating value creation for medical device technologies in the cardiovascular space; Consonance Capital, a private investment firm specializing in healthcare; and Hudson Executive Capital, LP, a private investment firm that provides strategic capital and operational insight for small and mid-cap public companies. Existing investors, HealthCor Partners Management, Corindus’ largest shareholder, and Royal Philips [NYSE: PHG, AEX: PHIA], a global health technology company, also participated in the financing.

“We are pleased to announce this financing and appreciate the support of our new and existing investors,” said Mark Toland, President and Chief Executive Officer of Corindus. “The additional capital will allow us to continue the momentum created by strong interest in the recent launch of our next-generation CorPath GRX System and our expansion into Japan with an exclusive distribution agreement with MC Healthcare, Inc., a subsidiary of Mitsubishi Corporation.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state and other jurisdiction.

The securities offered and to be sold by Corindus in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements. Corindus has agreed to file a registration statement with the SEC covering the resale of the shares of common stock sold in the private placement within 45 days of the closing of the private placement. Any resale of Corindus’ securities under such resale registration statement will be made only by means of a prospectus.