Volcano Announces Closing of CardioSpectra Acquisition
December 19, 2007 - Volcano Corp., provider of intravascular ultrasound (IVUS) and functional measurement (FM) products designed to enhance the diagnosis and treatment of vascular and structural heart disease, has completed its acquisition of CardioSpectra Inc.
Under terms of the agreement, which was announced Dec. 10, 2007, Volcano paid $25 million in cash at closing to CardioSpectra's shareholders and warrant holders. 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.
For more information: www.volcanocorp.com