Healthcare Industry News: Royal Philips
News Release - March 26, 2007
Philips and Volcano Corporation to Collaborate to Strengthen Cardiovascular Imaging SystemsRelationship Strengthens Philips' Integrated Cath Lab Solution
ANDOVER, Mass. and RANCHO CORDOVA, Calif., March 26 (HSMN NewsFeed) -- Royal Philips Electronics (NYSE: PGH; AEX: PHI) and Volcano Corporation (Nasdaq: VOLC ), a developer and manufacturer of intravascular ultrasound (IVUS) systems and imaging catheters, today announced compatibility between the Philips Allura Xper FD systems and the Volcano s5i suite of integrated IVUS systems. This compatibility allows clinicians to quickly and easily connect the Volcano IVUS system with the Allura Xper FD when additional imaging is required to complement cardiovascular X-ray during catheterization (cath) lab procedures. By cutting down the time it takes to set up these key cath lab systems, customers of both companies will optimize workflow and increase productivity.
Philips recently completed comprehensive testing to confirm compatibility between its state-of-the-art Allura Xper FD systems and the Volcano s5i suite of integrated IVUS systems and products. The company has acknowledged Volcano as a non-exclusive vendor of choice for new cath lab installations which specify integrated IVUS capabilities, and any Philips customer in a market with Volcano s5i approval can have an integrated IVUS system installed at the time of the new cath lab construction. In addition, this collaboration clears the path for regional co-marketing agreements in important IVUS markets, such as Japan.
Bert van Meurs, senior vice president of cardiovascular X-ray for Philips Medical Systems, commented, "IVUS is an integral part of daily percutaneous coronary interventions. As the technology and market share leader in the cath lab market in the world, Philips strives to offer the most complete, state-of- the-art integrated cath lab -- while retaining optimal work-flows and cath lab efficiency. Volcano's new s5i IVUS system is uniquely suited to meet those needs, as it integrates into any new cath lab quickly and seamlessly, and provides our customers with integrated IVUS functionality. This collaboration with Volcano should help us meet our customers' needs and allow Philips to retain its technology and market leadership position."
"In all markets of the world, physicians are increasingly recognizing the clinical value of Volcano's new intravascular imaging and that it is essential to providing optimal interventional results," said Scott Huennekens, president and CEO of Volcano Corporation. "Whether it is the use of IVUS to optimize the safe placements of Drug Eluting or Bare Metal Stents or to ensure patients receive a more complete diagnosis of their coronary disease at the time of a diagnostic angiogram, it is more and more clear that a cath lab without integrated IVUS is a cath lab that limits an interventionalist's capabilities and is not state-of-the-art. From this point forward, any Philips customer desiring integrated IVUS is ensured that their new cath lab is configured for optimal efficiency."
About Volcano Corporation:
Volcano Corporation (Nasdaq: VOLC ), which completed its IPO in June 2006, offers a broad suite of devices designed to facilitate endovascular procedures, enhance the diagnosis of vascular and structural heart diseases and guide optimal therapies. The company's intravascular ultrasound (IVUS) 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, such as VH(TM) IVUS tissue characterization. Volcano also provides functional measurement (FM) consoles and single-use pressure and flow guide wires. Currently, more than 2,500 Volcano IVUS and FM systems are installed worldwide, with approximately half of its revenues coming from outside the United States. For more information, visit the company's website at www.volcanocorp.com.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of "sense and simplicity." Headquartered in the Netherlands, Philips employs approximately 121,700 employees in more than 60 countries worldwide. With sales of USD 34 billion (EUR 27 billion) in 2006, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.
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. These statements include the introduction and commercialization of new products, shortened procedure time, ease of product use, the performance of the company's IVUS systems and customer acceptance, use of the company's products and technologies, the capability and functionality of IVUS technology in optimizing stent placement and the role of IVUS in clarifying atherosclerotic disease process and guiding interventional and system therapies are forward-looking statements that involve risks and uncertainties. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks and uncertainties, which may cause Volcano's results to differ materially from the statements contained herein. The potential risks and uncertainties that could cause actual results to differ from the results presented are detailed in the company's 10-Q and other filings made with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Volcano undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
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