Volcano Corp buys medical imaging solutions developer for $17.3 mln
US medical devices company Volcano Corporation has acquired medical imaging solutions developer Sync-Rx Ltd for $17.3 million. Sync-Rx is jointly owned by Rafael Advanced Defense Systems Ltd and Elron Electronic Industries Ltd, through its joint venture Rafael Development Corporation.
It develops automated online image processing to optimize and facilitate trans-catheter cardiovascular interventions.
The acquisition will be closed within 30 days. Sync-Rx was founded in 2007 and it will become the wholly owned subsidiary of San Diego-based Volcano.
It currently focuses on coronary catheterizations and it plans to develop applications for structural heart disease. The company also plans to expand Sync-Rx’s technology to work with real-time intra-body physiology measurements and intravascular ultrasound, intra-cardiac echocardiography, and optical coherence tomography imaging.
Volcano President and CEO Scott Huennekens said, “Sync-Rx’s technology provides Volcano with a platform on which to build a range of advanced software features that will help in clinical decision-making by providing co-registration capabilities and future opportunities in physiology and peripheral and minimally invasive structural heart therapy guidance.” Mr. Scott also said, “We are excited about the Sync-Rx team joining Volcano and establishing a footprint in Israel, given the breadth and depth of medical imaging and software talent there.”
Ian Biran, Chairman, Rafael and Sync-Rx said, “ Sync-Rx’s platform is another example of state-of-the-art technology developed in Israel that has demonstrated global superiority. For RDC, this is another success story which follows the successes of Given Imaging Ltd and Medingo, which grew at RDC achieved breakthroughs and became leaders in their fields.”
Volcano Corporation develops, manufactures and commercializes vast range of devices.