Volcano Announces Closing of CardioSpectra Acquisition

Dec 18, 2007, 00:00 ET from Volcano Corporation

    SAN DIEGO, Dec. 18 /PRNewswire-FirstCall/ -- Volcano Corporation
 (Nasdaq:   VOLC), a provider of intravascular ultrasound (IVUS) and
 functional measurement (FM) products designed to enhance the diagnosis and
 treatment of vascular and structural heart disease, announced today that it
 has completed its previously announced acquisition of CardioSpectra, Inc.
 
     CardioSpectra is a privately-held company developing innovative Optical
 Coherence Tomography (OCT) technology. CardioSpectra's unique OCT imaging
 system is expected to complement Volcano's existing product offerings and
 further enhance Volcano's position as an imaging technology leader in the
 field of interventional medicine.
 
     Under terms of the agreement, which was announced on December 10, 2007,
 Volcano paid $25 million in cash at closing to CardioSpectra's shareholders
 and warrant holders. In addition, Volcano may make additional payments upon
 the achievement of certain product development, regulatory and revenue
 milestones. Any future payment may be made in cash or stock, or a
 combination of both at Volcano's discretion.
 
     About 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 ChromaFlo(R).
 Volcano also provides functional measurement (FM) consoles and single-use
 pressure and flow guide wires. Currently, more than 2,900 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.
 
     Forward-Looking Statements
 
     This news release contains forward-looking statements within the
 meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any
 statements in this news release regarding the CardioSpectra acquisition,
 Volcano's business and technology, and CardioSpectra's business and
 technology, that are not historical facts may be considered
 "forward-looking statements," including statements regarding the
 CardioSpectra acquisition, its expected benefits to Volcano and
 CardioSpectra, the complementary nature of each company's technology and
 skill sets to the other, Volcano's long-term goals from the CardioSpectra
 acquisition, and the features of CardioSpectra's technology and its
 potential. 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 here. 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 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 were
 made, or to reflect the occurrence of unanticipated events.
 
 
 

SOURCE Volcano Corporation
    SAN DIEGO, Dec. 18 /PRNewswire-FirstCall/ -- Volcano Corporation
 (Nasdaq:   VOLC), a provider of intravascular ultrasound (IVUS) and
 functional measurement (FM) products designed to enhance the diagnosis and
 treatment of vascular and structural heart disease, announced today that it
 has completed its previously announced acquisition of CardioSpectra, Inc.
 
     CardioSpectra is a privately-held company developing innovative Optical
 Coherence Tomography (OCT) technology. CardioSpectra's unique OCT imaging
 system is expected to complement Volcano's existing product offerings and
 further enhance Volcano's position as an imaging technology leader in the
 field of interventional medicine.
 
     Under terms of the agreement, which was announced on December 10, 2007,
 Volcano paid $25 million in cash at closing to CardioSpectra's shareholders
 and warrant holders. In addition, Volcano may make additional payments upon
 the achievement of certain product development, regulatory and revenue
 milestones. Any future payment may be made in cash or stock, or a
 combination of both at Volcano's discretion.
 
     About 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 ChromaFlo(R).
 Volcano also provides functional measurement (FM) consoles and single-use
 pressure and flow guide wires. Currently, more than 2,900 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.
 
     Forward-Looking Statements
 
     This news release contains forward-looking statements within the
 meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any
 statements in this news release regarding the CardioSpectra acquisition,
 Volcano's business and technology, and CardioSpectra's business and
 technology, that are not historical facts may be considered
 "forward-looking statements," including statements regarding the
 CardioSpectra acquisition, its expected benefits to Volcano and
 CardioSpectra, the complementary nature of each company's technology and
 skill sets to the other, Volcano's long-term goals from the CardioSpectra
 acquisition, and the features of CardioSpectra's technology and its
 potential. 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 here. 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 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 were
 made, or to reflect the occurrence of unanticipated events.
 
 
 SOURCE Volcano Corporation