Healthcare Industry News: Volcano
News Release - August 25, 2009
Volcano Corporation and Siemens Healthcare Announce Global Resale Agreement for Volcano IVUS/FFR SystemsSAN DIEGO and ERLANGEN, GERMANY, Aug. 25 (Healthcare Sales & Marketing Network) -- Volcano Corporation (Nasdaq: VOLC ), a leader in the development, manufacturing and sales of products for the diagnosis of coronary and peripheral artery disease, announced today that it has entered into a non-exclusive, global resale agreement with Siemens Healthcare, a sector of Siemens AG (NYSE: SI ). Under this agreement, Siemens will resell Volcano-branded s5i IVUS/FFR systems and accessories alongside Siemens' Artis family of X-ray systems.
The Volcano s5i intravascular ultrasound (IVUS) and fractional flow reserve (FFR) system is compatible with Artis X-ray offerings. Volcano's s5i is a component-based system that is incorporated directly into the cath lab, allowing IVUS and FFR to be always on and always ready.
As a technology leader in the cath lab market, Siemens strives to offer the most complete, state-of- the-art cath lab -- while focusing on optimal work-flows. Volcano's s5i IVUS system is uniquely suited to meet those needs, as it interacts seamlessly with the Siemens x-ray systems.
Physicians are recognizing the value of IVUS and FFR as an integral part of daily percutaneous coronary interventions. Volcano's IVUS technology gives clinicians the ability to visualize vessel geometry, understand plaque composition and make measurements for stent sizing. Volcano's FFR technology allows physicians to make a physiological measurement of a lesion to assess the requirement for treatment. Volcano's s5i system uniquely integrates both technologies into the cath lab on one system.
"IVUS and FFR usage is growing worldwide, and more and more hospitals are seeking to include these technologies in their cath lab design from the very beginning," commented Scott Huennekens, president and chief executive officer of Volcano. "Our agreement with Siemens Healthcare is yet another example of Volcano's commitment to provide clinicians with market leading IVUS and FFR technology that functions seamlessly with their X-ray equipment."
"With our Artis system, we bring the best in state-of-the-art cath lab technology to the market." said Dr. Georg Nollert, Global Marketing Manager Cardiology Systems. "Offering Volcano's s5i IVUS / FFR system integrated into the Artis system supports our goal of bringing best-in-class solutions to the interventional cardiologist."
The Volcano - Siemens resale agreement builds upon the established compatibility between the Siemens Artis system and the Volcano s5i integrated IVUS system previously demonstrated at the American College of Cardiology (ACC) meetings.
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 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® IVUS tissue characterization and ChromaFlo®. 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 4,400 Volcano IVUS and FM systems are installed worldwide, and more than half of Volcano's revenues are derived from outside the United States. Through its wholly-owned subsidiary, Axsun Technologies, Volcano also develops and manufactures optical monitors, lasers and optical engines used in telecommunications, spectroscopy and other industrial applications. These products are sold to a variety of customers, including Nokia Siemens, Ericsson, Alcatel-Lucent and HuaWei Technologies. For more information, visit the company's website at http://www.Volcanocorp.com.
The Siemens Healthcare Sector is one of the world's largest suppliers to the healthcare industry and a trendsetter in medical imaging, laboratory diagnostics, medical information technology and hearing aids. Siemens is the only company to offer customers products and solutions for the entire range of patient care from a single source - from prevention and early detection to diagnosis, and on to treatment and aftercare. By optimizing clinical workflows for the most common diseases, Siemens also makes healthcare faster, better and more cost-effective. Siemens Healthcare employs some 49,000 employees worldwide and operates in over 130 countries. In fiscal year 2008 (to September 30), the Sector posted revenue of 11.2 billion euros and profit of 1.2 billion euros. For further information please visit: www.siemens.com/healthcare.
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 financial guidance for 2009, market adoption of the company's technology, the impact of clinical and other technical data, the timing and impact of the company's transition to a direct sales force in Japan, including impact on revenue, expenses and income, growth strategies, market development and product sales. 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 annul report on Form 10-K, quarterly reports 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 are made, or to reflect the occurrence of unanticipated events.
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