(By Balachander) Volcano Corp. (NASDAQ: VOLC), a maker of precision-guided therapy products, has agreed to acquire Israel-based Sync-Rx Ltd. to expand its multi-modality platform.
Financial terms of the deal were not disclosed.
Sync-Rx develops advanced software applications that optimize and facilitate transcatheter cardiovascular interventions using automated online image processing.
"Sync-Rx's technology provides Volcano with a platform on which to build a range of advanced software features that will aid clinical decision-making by providing angiography and intra-body image enhancement," commented Volcano CEO Scott Huennekens.
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Future applications for the Sync-Rx technology in other areas include co-registration of non-invasive imaging with real time intra-body physiology measurements and IVUS peripheral, forward looking IVUS, forward looking intra-cardiac (ICE), and OCT imaging, Huennekens said.
Volcano manufactures intravascular ultrasound (IVUS) and fractional flow reserve (FFR) products used in the diagnosis and treatment of vascular and structural heart disease.
The company expects the acquisition to be completed within the next 30 days.
VOLC shares closed at $36.90 on Wednesday. Over the past year, the stock has been trading between $21.38 and $30.59.