Volcano Corporation to Supply Intravascular Ultrasound Technology to Covidien for Integration with Plaque Excision Systems

SAN DIEGO, May 4, 2011 /PRNewswire/ -- Volcano Corporation (NASDAQ: VOLC), the leading developer and manufacturer of precision guided therapy tools designed to enhance the treatment of coronary and peripheral vascular disease, today announced the signing of a supply agreement with ev3, a Covidien company, under which Volcano will supply its proprietary Intravascular Ultrasound (IVUS) technology for use in ev3's Plaque Excision Systems.  Utilizing the digital IVUS transducer incorporated in Volcano's market leading EagleEye® catheter product line, this new product will be capable of running on Volcano's global installed base of 5,000 systems.

"At Volcano, our imaging and physiology tools provide a level of precision that angiography alone simply cannot match," commented Scott Huennekens, President and CEO of Volcano. "In addition to our internally developed image guided therapy products, such as the VIBE® RX Imaging Balloon (commercially available in the EU only), we have looked to other medical device industry leaders to join us in differentiating therapeutic devices by adding integrated imaging capabilities. Covidien is an innovative company that recognizes the value of onboard visualization and is committed to bringing these new, more precise therapies to market to help improve patient outcomes. This agreement also exemplifies the value of our one system, many solutions strategy facilitated by our multi-modality platform."

Plaque Excision Systems, also called atherectomy devices, are catheters that remove plaque that blocks arteries and interrupts blood flow.  Instead of compressing plaque against the vessel wall – as is the case with balloon and stent therapy alone – plaque excision systems remove the obstruction from the vessel, thereby restoring blood flow, reducing damage to the vessel wall, and preserving future treatment options. IVUS integration offers advantages in immediate assessment of the plaque to better guide therapy.  

Over 270,000 atherectomy procedures have been performed with the market leading SilverHawk® and TurboHawk™ directional atherectomy catheters, uniquely designed to direct the therapy specifically to the diseased portion of the vessel while avoiding healthy portions of the vessel. The latest generation of TurboHawk plaque excision catheters are designed to remove all plaque morphologies from diseased arteries, including calcified lesions.    

"By partnering with Volcano, we continue to lead atherectomy therapy, enabling physicians to visualize the diseased portion of the artery for optimal plaque excision," said Stacy Enxing Seng, President, Peripheral Vascular, Covidien.  "This is particularly important as we believe preparing and treating the vessel for drug delivery, whether via drug coated balloon or stent, will create a breakthrough in treating lower extremity peripheral arterial disease."

About Volcano Corporation

Volcano Corporation is revolutionizing the medical device industry with a broad suite of technologies that make imaging and therapy simpler, more informative and less invasive.  Our products empower physicians around the world with a new generation of analytical tools that deliver more meaningful information - using sound and light as the guiding elements.  Founded in cardiovascular care and expanding into other specialties, Volcano is changing the assumption about what is possible in improving patient outcomes by combining imaging and therapy together.  

Forward-Looking Statements

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 that are not historical facts may be considered "forward-looking statements." Forward-looking statements are based on management's current 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 include the pace and extent of market adoption of the company's products and technologies, growth strategies, timing and achievement of product development milestones, the impact and benefits of market development, product introductions, unexpected new data, safety and technical issues, market conditions, dependence on third parties, and other risks inherent to medical device development and commercialization. These and additional risks and uncertainties are more fully described in Volcano's filings made with the Securities and Exchange Commission, including our  recent annual report on Form 10-K. 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.

SOURCE Volcano Corporation