Intravascular ultrasound (IVUS) developer Volcano has acquired Methuen, MA-based Novelis, which specializes in ultrasonic visualization and therapy technology for minimally invasive diagnostic and therapeutic devices.
Volcano of San Diego paid approximately $12 million in cash at closing. Volcano also may make an additional cash payment of $3 million based on the achievement of a specific regulatory milestone.
Novelis' proprietary forward-looking intravascular ultrasound (FLIVUS) technology platform is expected to build upon Volcano's existing product line to expand Volcano's position in interventional medicine and the interventional cardiology market.
Novelis' FLIVUS technology includes an image-guided crossing catheter that combines visualization, steerability, and radiofrequency tissue ablation
The technology may have applications for numerous minimally invasive procedures, including plaque modification in the coronary or peripheral arteries, guidance in structural heart procedures such as cardiac ablation guidance and therapy, breast biopsy guidance and therapy, and orthopedic (spine) guidance and therapy.
Related Reading
Volcano reaches milestone, May 13, 2008
Volcano launches new products, March 31, 2008
Volcano to buy CardioSpectra, December 13, 2007
Cordis partners with Volcano in Europe, November 12, 2007
GE, Volcano launch IVUS cabling program, April 3, 2007
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