Healthcare Industry News: Volcano Corporation
News Release - October 19, 2006
GE Healthcare and Volcano Corporation Announce World's First Installation of Innova IVUS and Plans to Enable All Future U.S. Innova Labs to Be IVUS ReadyPre - Cabling of all Innova Labs Will Facilitate Integration of Volcano's Intravascular Ultrasound (IVUS) Technology
WAUKESHA, Wis. & RANCHO CORDOVA, Calif.--(HSMN NewsFeed)--GE Healthcare (NYSE: GE ) and Volcano Corporation (NASDAQ: VOLC ) today announced the completion of the first commercial installation of Innova IVUS at PinnacleHealth Heart and Vascular Institute at Harrisburg Hospital in Harrisburg, PA.
Innova IVUS is GE Healthcare's custom integration of Volcano's s5i IVUS imaging system with the best-of-class Innova all-digital X-ray cath lab imaging system. Innova IVUS optimizes clinical workflow by offering IVUS controls on the Innova Central bedside touchscreen. Data exchange between the IVUS system and Innova allows for automatic patient data transfer from Innova for IVUS cases and advanced archiving that links IVUS cases to cath cases.
Volcano's s5i product uses a new PC-based platform that reduces the size, weight and noise of the older generation IVUS consoles. This allows the unit to be located in the control room or in other areas outside of the daily traffic pattern of the cath lab. Clinicians have the ability to control the IVUS system through a variety of control devices located at the patient bedside, at the point of care, or both. Clinicians also have the flexibility to view IVUS images on the existing monitor bank, a separate dedicated IVUS monitor, and/or on a monitor in the control room.
Rajesh Dave, MD, Chairman of Endovascular Medicine at PinnacleHealth Heart and Vascular Institute said, "Volcano's novel IVUS features such as automatic border detection and VH(TM) IVUS plaque composition analysis result in faster IVUS results with more actionable information than was previously available with IVUS. Combine this with GE Healthcare's touchscreen control and easier workflow derived from the unique Innova IVUS application, and I believe IVUS will become increasingly integral in assuring proper stent deployment."
Additionally, GE and Volcano today announced GE's plans to include the cabling required to operate Volcano's IVUS technology on all future U.S. installations of GE Healthcare's Innova imaging systems. The inclusion of IVUS cabling as part of the standard installation creates the infrastructure required to operate Innova IVUS.
"Our decision to include IVUS cabling in all future U.S. Innova installations was based both on positive early customer feedback on Innova IVUS, as well as our belief in the market opportunity for IVUS," said Laura King, Global Vice President, Interventional Cardiology at GE Healthcare. "We believe clinicians will continue to utilize advanced, real-time imaging tools such as IVUS. This integration will make Innova IVUS simple and efficient for our customers."
Scott Huennekens, President and CEO of Volcano Corporation, added, "We believe that clinicians will increasingly demand advanced tools such as IVUS to assist in proper stent deployment, expansion, apposition, and lesion coverage. GE Healthcare's decision to include IVUS cabling in its standard installation will make it easier for a greater number of physicians and their patients to benefit from Volcano's IVUS technology."
Innova IVUS is currently available for sale to new and existing GE Healthcare customers and will be co-marketed by the GE and Volcano sales and marketing organizations in the United States, Europe, certain markets in Asia and other world markets. GE will also collaborate with Volcano to provide unparalleled cath lab design, installation and field repair/service of this new system. Customers will be able to contract with one vendor, GE, for their purchasing, installation and field service needs.
About GE Healthcare:
GE Healthcare provides transformational medical technologies that are shaping a new age of patient care. GE Healthcare's expertise in medical imaging and information technologies, medical diagnostics, patient monitoring and life support systems, disease research, drug discovery, and biopharmaceutical manufacturing technologies is helping physicians detect disease earlier and to tailor personalized treatments for patients. GE Healthcare offers a broad range of products and services that are improving productivity in healthcare and enhancing patient care by enabling healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases, and other conditions.
GE Healthcare is a $15 billion unit of General Electric Company (NYSE: GE ) headquartered in the United Kingdom. Worldwide, GE Healthcare employs more than 43,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com
About Volcano Corporation
Volcano Corporation (VOLC), which completed its IPO in June 2006, offers a broad suite of devices that facilitate endovascular procedures. Volcano's products enhance the diagnosis of vascular and structural heart diseases and guide optimal therapies. The company's IVUS (intravascular ultrasound) product line includes ultrasound consoles that can be integrated directly into virtually any modern cath lab and single-use phased array and rotational IVUS imaging catheters. Volcano also has unique advanced functionality options like VH tissue characterization and IVUS and angiography co-registration. Volcano also provides functional measurement (FM) consoles and single-use pressure and flow guide wires. Currently, more than 2,000 Volcano IVUS and FM systems are installed worldwide, with nearly half of its revenues coming from outside the U.S. For more information, visit the company's website at www.volcanocorp.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this press release regarding Volcano's business that are not historical facts may be "forward-looking statements" that involve risks and uncertainties. Specifically, among others, the statements regarding expectations regarding planned installations, ease of product use, shortened procedure time, impact on clinical cath lab procedures and workflow, access to clinical data, product development, collaborative relationships, regulatory approvals, commercialization, and market acceptance of products and/or technology are forward-looking statements involving risks and uncertainties. Forward-looking statements are based on current, preliminary expectations of Volcano management and are subject to risks and uncertainties, which may cause actual results to differ from the statements contained herein. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made and Volcano undertakes no obligation to update publicly any forward -looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events. Potential risks and uncertainties that could cause actual results to differ from the results predicted are detailed in the risk factors contained in Volcano's filings made with the Securities and Exchange Commission.
Source: GE Healthcare
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