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Volcano Corporation to Supply Intravascular Ultrasound Technology to Covidien for Integration with Plaque Excision Systems
Agreement Expands Applications for Volcano's Multi-Modality Platform
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May 4, 2011 -- San Diego --
Volcano Corporation (NASDAQ: VOLC), the leading developer and manufacturer
of precision guided therapy tools designed to enhance the treatment
of coronary and peripheral vascular disease, today announced the signing
of a supply agreement with ev3, a Covidien company, under which Volcano
will supply its proprietary Intravascular Ultrasound (IVUS) technology
for use in ev3's Plaque Excision Systems. Utilizing the digital IVUS
transducer incorporated in Volcano's market leading EagleEye® catheter
product line, this new product will be capable of running on Volcano's
global installed base of 5,000 systems.
"At Volcano, our imaging and physiology tools provide a level of precision that angiography alone simply cannot match," commented Scott Huennekens, President and CEO of Volcano. "In addition to our internally developed image guided therapy products, such as the VIBE® RX
Imaging Balloon (commercially available in the EU only), we have looked
to other medical device industry leaders to join us in differentiating
therapeutic devices by adding integrated imaging capabilities. Covidien
is an innovative company that recognizes the value of onboard visualization
and is committed to bringing these new, more precise therapies to market
to help improve patient outcomes. This agreement also exemplifies the
value of our one system, many solutions strategy facilitated by our
multi-modality platform."
TurboHawk
Excision Catheter |
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Plaque Excision Systems, also
called atherectomy devices, are catheters that remove plaque
that blocks arteries and interrupts blood flow. Instead of compressing
plaque against the vessel wall — as is the case with balloon
and stent therapy alone — plaque excision systems remove the
obstruction from the vessel, thereby restoring blood flow, reducing
damage to the vessel wall, and preserving future treatment options.
IVUS integration offers advantages in immediate assessment
of the plaque to better guide therapy. |
Over 270,000 atherectomy procedures have been
performed with the market leading SilverHawk® and TurboHawk™ directional
atherectomy catheters, uniquely designed to direct the therapy specifically
to the diseased portion of the vessel while avoiding healthy portions
of the vessel. The latest generation of TurboHawk plaque excision catheters
are designed to remove all plaque morphologies from diseased arteries,
including calcified lesions.
"By partnering with Volcano, we continue to lead atherectomy therapy, enabling physicians to visualize the diseased portion of the artery for optimal plaque excision," said Stacy Enxing Seng, President, Peripheral Vascular, Covidien. "This
is particularly important as we believe preparing and treating the
vessel for drug delivery, whether via drug coated balloon or stent,
will create a breakthrough in treating lower extremity peripheral arterial
disease."
About Volcano Corporation
Volcano Corporation is revolutionizing the medical device industry with a broad suite of technologies that make imaging and therapy simpler, more informative and less invasive. Our products empower physicians around the world with a new generation of analytical tools that deliver more meaningful information - using sound and light as the guiding elements. Founded in cardiovascular care and expanding into other specialties, Volcano is changing the assumption about what is possible in improving patient outcomes by combining imaging and therapy together.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995. Any statements
in this release that are not historical facts may be considered "forward-looking statements." Forward-looking
statements are based on management's current expectations and are subject
to risks and uncertainties which may cause Volcano's results to differ
materially and adversely from the statements contained herein. Some
of the potential risks and uncertainties that could cause actual results
to differ include the pace and extent of market adoption of the company's
products and technologies, growth strategies, timing and achievement
of product development milestones, the impact and benefits of market
development, product introductions, unexpected new data, safety and
technical issues, market conditions, dependence on third parties, and
other risks inherent to medical device development and commercialization.
These and additional risks and uncertainties are more fully described
in Volcano's filings made with the Securities and Exchange Commission,
including our recent annual report on Form 10-K. Undue reliance should
not be placed on forward-looking statements which speak only as of
the date they are made. Volcano undertakes no obligation to update
any forward-looking statements to reflect new information, events or
circumstances after the date they are made, or to reflect the occurrence
of unanticipated events.
Source: Volcano
Corporation
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