Volcano Therapeutics Inc has signed a letter of intent to acquire Jomed's global IVUS and Functional Measurement businesses. Volcano Therapeutics is focused on the discovery, development and commercialization of products for the detection and treatment of atherosclerosis and vulnerable plaques located in the coronary and peripheral arteries.
Scott Huennekens, President & CEO of Volcano Therapeutics, noted, "Volcano is focused on providing interventional cardiologists and the medical community advanced technologies to better understand the development and progression of atherosclerosis and vulnerable plaques. The addition of Jomed's state-of-the-art intravascular ultrasound imaging systems is exceptionally synergistic with Volcano's Virtual Histology IVUS system, recently demonstrated at the International Paris Course on Revascularization. Volcano's intravascular thermography catheter products will integrate well with the pressure catheter and flow wire interventional products of Jomed's Functional Measurement business."
Huennekens further stated, "This acquisition is consistent with Volcano's vision and strategy to provide interventional cardiologists clinically relevant information to direct specific therapies that will significantly improve clinical outcomes."
Olav Bergheim, Volcano's Chairman of the Board, commented, "The combination of the established IVUS and Functional Measurement products with Volcano's emerging technologies thermography and Virtual Histology IVUS position Volcano as a leader in the diagnosis of atherosclerosis." He added, "With the recent clinical successes of drug eluting stents we see a tremendous opportunity to provide clinicians additional information to justify the use of drug eluting stents and improve their clinical utility. Additionally, this acquisition uniquely positions Volcano to lead the effort to diagnose and treat vulnerable plaques in the coronary arteries. The diagnosis and treatment of vulnerable plaques is projected to be a multi-billion dollar market."