Healthcare Industry News: Volcano Corporation
News Release - May 8, 2008
Volcano Corp Announces First Human Use of the Volcano Optical Coherence Tomography (OCT) Imaging CatheterNew imaging modality highlights Volcano commitment to intravascular imaging and opens up new clinical and research applications
SAN DIEGO and BRUSSELS, Belgium, May 8 (HSMN NewsFeed) -- Volcano Corporation (Nasdaq: VOLC ), a leading manufacturer and developer of intravascular ultrasound (IVUS), functional measurement (FM) and Optical Coherence Tomography (OCT) products designed to enhance the diagnosis and treatment of coronary and peripheral vascular disease, announced today the first human procedure using the Volcano OCT Imaging catheter. The procedure was performed by Dr. Patrick Serruys at the Thoraxcenter, in Rotterdam, Netherlands. Volcano OCT will complement its existing line of IVUS imaging catheters and pressure guidewires used for coronary imaging and lesion assessment.
Volcano acquired the OCT technology through its purchase of CardioSpectra at the end of 2007.
Scott Huennekens, President and Chief Executive Officer of Volcano, commented, "Volcano is committed to being the leader in intravascular imaging, both to complement everyday PCI technique, and to further the understanding of atherosclerotic disease progression. Our investment in this OCT product line underscores that commitment, and opens a series of new clinical applications and opportunities to complement our existing product line. We are delighted to be underway with our OCT effort just four months after completing the acquisition.
"With our two imaging technologies, we are the leader in intravascular imaging and commercializing this technology will provide us further competitive advantages. We are working on offerings that incorporate OCT functionality into our s5i IVUS platform, as well as standalone OCT systems. Our emphasis continues to be focused around 'Choice', the ability for Volcano to provide a number of different therapy enabling modalities, and letting the physician choose which technology is appropriate for each individual patient."
Christopher E. Banas, Vice President and General Manager of Volcano's OCT Division in San Antonio Texas, and former CEO and Chairman of CardioSpectra commented, "This is an important step in demonstrating the ability of Volcano's OCT catheter to safely image coronary vessels of human patients and establishing a leadership position in advanced coronary imaging technologies."
Volcano's OCT imaging platform provides high-resolution images in the 10- 15 micron range, opening the door for new applications to complement both IVUS and angiography. Michel Lussier, president of Volcano Europe commented, "The high resolution OCT images provide a glimpse at structural detail not seen before by other imaging modalities. We believe that OCT has the potential to identify thin-cap fibro-atheromas, clearly highlight intraluminal thrombus, and assess the complete healing of novel drug-eluting stent designs. Volcano is committed to exploring the various clinical benefits of our OCT platform through detailed data-driven study design and mutually beneficial partnerships with other therapy companies."
Patrick Serruys, M.D., commented, "The Volcano OCT Imaging Catheter is another step closer to delivering interventionalists with the true cath lab of the future. To better serve my patients, I want the flexibility to select from an array of different tools, quickly interrogate the vessel, and immediately process the information. Having these various technologies, including IVUS, OCT and FFR, all integrated into the lab, with a common user interface, review points, data storage and staff training provides this flexibility."
About Volcano Corporation
Volcano Corporation (NASDAQ: VOLC ) 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. Volcano IVUS offers unique features, including both single-use phased array and rotational IVUS imaging catheters, and advanced functionality options such as VH(TM) tissue characterization and ChromaFlo®. Internal DICOM networking provided by DICOM by Merge. Volcano also provides functional measurement (FM) consoles and single-use pressure and flow guide wires and is developing a line of ultra high-resolution Optical Coherence Tomography systems and catheters. Currently, more than 3,300 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 http://www.volcanocorp.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release regarding Volcano's business that are not historical facts may be considered "forward-looking statements," including statements regarding the company's success and timing of product development and new product introductions, including the installations of imaging consoles and catheters, the expected performance enhancements of its products, the integration of our products into new or existing cath labs, and market conditions and expectations. 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 and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from the results predicted are detailed in the company's annual report on Form 10-K, quarterly report on Form 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 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.
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