Rancho Cordova, CA - July 21, 2003 - Volcano Therapeutics, Inc. announced today that it has completed the purchase of the global Intravascular Ultrasound and Functional Measurement Businesses from JOMED, Inc. and certain other affiliates and subsidiaries of JOMED, NV, traded on the Swiss Exchange (SWISS: JOMZ.S). The agreement to acquire JOMED was announced earlier this month.
The purchase supports Volcano's strategy to build on Volcano's groundbreaking Virtual Histology IVUS technology which is being developed to enhance conventional IVUS technology. As the integration moves forward, Volcano plans to add its Virtual Histology IVUS technology to the installed base of more than 1,200 JOMED/EndoSonics IVUS consoles currently in clinical use worldwide. Volcano's existing intravascular thermography technology also integrates well with the products from the JOMED/Cardiometrics Functional Measurement business, which includes the pressure and flow wire product lines. Volcano now employs approximately 400 former JOMED employees worldwide, including direct sales organizations in the United States and in most of Europe.
"We are extremely pleased to announce the completion of this acquisition and look forward to providing the interventional cardiology community with these innovative IVUS and Functional Measurement products. The entire Volcano organization is now focused on serving our IVUS and FM customers worldwide and on building Volcano into the premier supplier of IVUS and FM products," said R. Scott Huennekens, Volcano's president and CEO.
Reaction from Leading Physicians
Martin B. Leon, MD, Chairman of the Cardiovascular Research Foundation, Lenox Hill Hospital, New York, New York, stated, "The integration of the JOMED solid-state IVUS technology with the Virtual Histology platform from Volcano presents a new generation of imaging potential in the diagnosis and treatment of coronary artery disease." Dr. Leon continued, "In the era of drug eluting stents, IVUS will play an increasingly important role in lesion assessment and in optimizing stent results."
Bernard De Bruyne, MD, PhD, Cardiovascular Center Aalst, Belgium, commented, "Volcano brings under the same roof very innovative technologies: Virtual Histology IVUS and Thermography -- as well as validated approaches - conventional IVUS, intracoronary pressure and flow measurements. These technologies are very complementary and may provide us in the future key information driving our therapeutic options."
Volcano Therapeutics, Inc., is a privately held medical device company. With the completion of this acquisition, Volcano's headquarters has been relocated to the former US headquarters of JOMED, Inc. in Rancho Cordova, CA. Volcano's European headquarters will remain in Brussels, Belgium. Volcano Therapeutics, Inc., founded in 2001, is focused on the discovery, development and commercialization of products for the detection and treatment of atherosclerosis and vulnerable plaques in the coronary arteries and peripheral vascular system. Currently under development are technologies that could be potentially useful in detecting and treating patients who are at risk for developing plaque rupture and subsequent adverse cardiac events. For more information, please visit www.volcanotherapeutics.com.
Scott Huennekens, President & CEO
2870 Kilgore Road
Rancho Cordova, CA 95670 USA
(916) 638-8112 (fax)
Junichi Osawa, President & Managing Director
Koji Osaka, General Manager
Ebisu Shimizu Building 4F
Europe & Middle East:
Michel Lussier, Vice President, Europe, Africa, Middle-East
Volcano Europe SA/NV
B-1930 Zaventem, Belgium
+ 32 475 80 00 97
+ 32 2 679 10 72 (fax)