SAN DIEGO, Nov. 23, 2012 /PRNewswire/ -- Volcano Corporation (Nasdaq: VOLC), a leading developer and manufacturer of precision guided therapy tools designed to enhance the diagnosis and treatment of coronary and peripheral vascular disease, today announced that it has entered into a definitive agreement to acquire Sync-Rx Ltd., a privately-held company based in Israel that develops advanced software applications that optimize and facilitate transcatheter cardiovascular interventions using automated online image processing. It is anticipated the transaction will close within the next 30 days.
"This transaction represents a strategic step in the advancement of our multi-modality platform," said Scott Huennekens, President and Chief Executive Officer of Volcano Corporation. "Sync-Rx's technology provides Volcano with a platform on which to build a range of advanced software features that will aid clinical decision-making by providing angiography and intra-body image enhancement, measurements and non-invasive imaging and intravascular co-registration capabilities, and future opportunities in physiology and peripheral and minimally invasive structural heart therapy guidance. We are excited about the Sync-Rx team joining Volcano and establishing a footprint in Israel, given the breadth and depth of medical imaging and software talent there."
Recent trends impacting Percutaneous Coronary Interventions (PCI) include the heightened scrutiny of health care costs, resulting in the need to validate treatment and outcomes with evidence as well as documentation of results for quality metrics and reimbursement support, specifically regarding appropriateness to stent and the results of the stenting. Volcano is focused on guiding and optimizing the delivery of minimally invasive therapies utilizing visualization, physiology, and other technologies to help clinicians achieve a more personalized treatment path for their patients as well as documenting outcomes.
"Sync-Rx's technology will allow Volcano to better integrate and present a wide variety of data in an intuitive manner that creates more meaningful information for the physician and documentation for the hospital," added Mr. Huennekens. "We see the technology being incorporated seamlessly into our existing multi-modality system with the ability in the future to co-register IVUS images directly on to the angiogram. Future applications for the Sync-Rx technology in other areas include co-registration of non-invasive imaging with real time intra-body physiology measurements and IVUS peripheral, forward looking IVUS, forward looking intra-cardiac (ICE), and OCT imaging."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts