MEDIA RELEASE PR41363
Volcano Signing of Termination Agreement with Fukuda
TOKYO, Sept. 22 /PRNewswire-AsiaNet/ --
Volcano Japan Co., Ltd. (President, Junichi Osawa, Tokyo, Japan)
announced today that it has signed a termination agreement with Fukuda Denshi
Co., Ltd. (President, Kotaro Fukuda, Tokyo Japan). This agreement, which
became effective today, will enable Volcano Japan to buy back the business of
Volcano intravascular ultrasound (IVUS) consoles and catheters from Fukuda.
In intravascular therapeutics market showing tremendous technical
innovation and clinical development, Volcano Japan initiates the new concept
of multi imaging modality platform by adding physiology measurement function
to IVUS console. Under current business environment requiring timely response
to customer needs, Volcano Japan and Fukuda Denshi agreed to mutually seek
for its own business revolution. Both companies will facilitate a smooth
transition and make every possible effort to provide a high level of service
to customers.
Volcano Japan signed a distribution agreement with Fukuda Denshi on March
17, 2006 and Fukuda Denshi continued to expand sales of Volcano IVUS consoles
and catheters in intravascular imaging market in Japan. Volcano Japan which
is 100% subsidiary of Volcano Corporation (CEO, Scott Huennekens, San Diego,
USA) started to establish its own direct sales structure, and it has grown to
occupy over 35% share in Japan IVUS market.
In Japan IVUS is perceived as one of most important coronary imaging tool
in percutaneous coronary intervention (PCI) and its penetration is over 70%
out of total PCI procedures. Volcano Japan will represent a great market
opportunity and contribute to IVUS technology evolution if the company
captures customer needs in timely manner and reflects voice of Japanese
customers to cutting edge research and technology development.
In conjunction with this termination agreement, Volcano Japan continues
to expand and strengthen its organization including sales, customer service,
logistics, field service, regulatory affairs, QA, marketing and clinical
development. Volcano Japan's mission is to become a total imaging company in
intravascular therapeutics market by launching and promoting variety of
products which are developed under very unique concept of "One System" and
contribute to better clinical outcome.
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.
SOURCE: Volcano Corporation
CONTACT: Edrienne Brandon
+1-858-720-4136
for Volcano Corporation
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