Healthcare Industry News: Volcano
News Release - September 15, 2008
Volcano Announces Resignation of Olav Bergheim from Board of DirectorsSAN DIEGO, Sept. 15 (HSMN NewsFeed) -- Volcano Corporation (Nasdaq: VOLC ), a leading manufacturer of intravascular ultrasound (IVUS) and functional measurement (FM) technology, announced today that Olav B. Bergheim, the company's chairman of the board, will resign from the board of directors effective as of the close of business on January 1, 2009. A co-founder of Volcano, Bergheim is the managing director of Fjord Ventures LLC, a venture capital firm he founded, and has served as chairman of Volcano's board since 2001.
"I am very proud of my long association with Volcano, and my decision to leave the board reflects the stage Volcano has grown to and my desire to focus on my new start-ups and building the next successful companies," Bergheim said. "Scott Huennekens and his management team have done a terrific job of growing the company and creating an organization that will foster long-term growth."
"We are very grateful for Olav's counsel and wisdom. He has played a significant role as a company founder and in fostering our growth," said Scott Huennekens, president and chief executive officer of Volcano.
Volcano Corporation (Nasdaq: VOLC ) offers a broad suite of devices designed to facilitate endovascular procedures, enhance the diagnosis of vascular and structural heart disease 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) IVUS tissue characterization and ChromaFloŽ, 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 (OCT) and Forward Looking IVUS systems and catheters. Currently, more than 3,500 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
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 release regarding Volcano's business that are not historical facts may be considered forward-looking statements, including statements regarding the company's growth and product pipeline. Forward-looking statements involve risks and uncertainties and are based on management's current expectations. Actual results could differ materially from these forward-looking statements as a result of certain factors, including factors discussed in Volcano's filings with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, which speak only as of the time they are made. Volcano undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, changes assumptions or otherwise. Actual results or experience could differ materially from the forward-looking statements.
Source: Volcano Corp
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