Healthcare Industry News: CORPAK
News Release - November 1, 2006
VIASYS Healthcare Inc. Acquires the Assets of BioBeat Medical, Ltd.Acquisition Enhances VIASYS' Leadership in Neurovascular Care
CONSHOHOCKEN, Pa.--(HSMN NewsFeed)--VIASYS Healthcare Inc. (NYSE:VAS ) announced today that it has acquired the assets of BioBeat Medical, Ltd., for approximately $4.5 million. The acquired products - SONARA and SONARA/tek incorporate advanced digital Transcranial Doppler (TCD) technology.
TCD is a non-invasive method of measuring blood flow velocities in the arteries of the brain using ultrasound Doppler technology. In less than a year, SONARA and SONARA/tek TCD systems have been rapidly adopted by neurovascular clinicians in Europe and Asia due to the systems' advanced performance and usability. The product line represents the best in modern TCD technology with exclusive features such as an intuitive user interface, superior signal acquisition, 250-gate high resolution M-Mode and patient statistics package.
"We believe this acquisition represents a significant addition of neurovascular technology to the NeuroCare portfolio," said Lori Cross, Group President of VIASYS NeuroCare. "This acquisition provides our neurovascular business with advanced TCD tools for diagnosis, monitoring and treatment of cerebrovascular disease, especially stroke."
"The SONARA and SONARA/tek products add both breadth and depth to the NeuroCare offering. By providing additional languages and enhanced signal acquisition, we will accelerate the adoption of TCD technology by new users to serve new markets and clinical settings," added Cross.
Randy Thurman, Chairman, President and CEO, VIASYS Healthcare Inc., commented, "We will quickly integrate this technology into our current vascular product portfolio providing our NeuroCare business with best-in-class TCD technology. This is consistent with our VIASYS Healthcare strategy of improving neurovascular care and patient outcomes while accessing significant opportunities in the fast-growing vascular diagnostic market as well as certain potential neuro therapeutic applications."
The SONARA and SONARA/tek will be launched this month to the European market at the MEDICA Healthcare meeting, which is the world's largest healthcare conference held annually in Germany. The products will be launched in the US market immediately upon FDA 510(k) clearance to market, which is currently pending.
ABOUT VIASYS HEALTHCARE INC.
VIASYS Healthcare Inc. is a global, research-based medical technology company focused on respiratory, neurology, medical disposable and orthopedic products. VIASYS products are marketed under well-recognized trademarks including, among others, AVEA®, BEAR®, BIRD®, CORFLO®, CORPAK®, CORTRAK®, EME®, GRASON-STADLER®, JAEGER(TM), LYRA®, MEDELEC®, MICROGAS®, NAVIGATOR®, NICOLET®, NicoletOne(TM), PULMONETIC(TM), SENSORMEDICS®, TECA®, TECOMET(TM), VELA® and VMAX®. VIASYS is headquartered in Conshohocken, PA, and its businesses are conducted through its Respiratory Care, NeuroCare, MedSystems and Orthopedics business units. More information can be found at http://www.viasyshealthcare.com.
This news release includes forward-looking statements within the meaning of the "Safe Harbor" provisions of Private Securities Litigation Reform Act of 1995 regarding the neurovascular marketplace and product portfolio and the expectations regarding the combined organization. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change the expectations for VIASYS' products and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, market factors (including the growth of the vascular diagnostics market), market acceptance and adoption of TCD technology, integration of the two organizations, internal research and development initiatives, partnered research and development initiatives, competitive product development, marketing initiatives, governmental regulations and legislation, patent positions and litigation, regulatory approval of the SONARA and SONARA/tek products in the United States and the inability to achieve the anticipated benefits of this transaction. For further details and a discussion other risks and uncertainties that may change VIASYS' expectations, please see VIASYS' annual report on Form 10-K for the year ended January 1, 2005, which is on file with the Securities and Exchange Commission. VIASYS undertakes no obligation to publicly update this forward-looking statement, whether as a result of new information, future events, or otherwise.
Source: VIASYS Healthcare
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