1. Articles in category: Other Business News

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    1. Law Firm Launches Investigation of the Board of Directors of Volcano Corporation Regarding the Fairness of the Sale of the Company to Royal Philips

      Law Firm Launches Investigation of the Board of Directors of Volcano Corporation Regarding the Fairness of the Sale of the Company to Royal Philips

      Levi & Korsinsky is investigating the Board of Directors of Volcano Corporation ("Volcano" or "the Company") (Nasdaq: VOLC ) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Royal Philips . Click here to learn more about the investigation: http://zlk.9nl.com/volcano-volc . Under the terms of the transaction, Volcano shareholders will receive $18.00 in cash for each share of Volcano stock they own. The investigation concerns whether the Board of Volcano breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter ...

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    2. Philips to acquire Volcano to expand global leadership position in image-guided therapy market

      Philips to acquire Volcano to expand global leadership position in image-guided therapy market

      Royal Philips (NYSE: PHG; AEX: PHIA) and Volcano Corporation (NASDAQ:VOLC), a global leader in catheter-based imaging and measurement solutions for cardiovascular applications, today announced that they have entered into a definitive merger agreement. Pursuant to the agreement, Philips will commence a tender offer to acquire all of the issued and outstanding shares of Volcano for USD 18.00 per share, or a total equity purchase price of USD 1 billion (approx. EUR 800 million), to be paid in cash upon completion. The board of directors of Volcano has unanimously approved the transaction and recommends the offer to its shareholders ...

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    3. Infraredx Announces Research Collaboration with Massachusetts General Hospital to Explore New Generation of Cardiovascular Imaging Devices

      Infraredx Announces Research Collaboration with Massachusetts General Hospital to Explore New Generation of Cardiovascular Imaging Devices

      Infraredx, Inc., a cardiovascular imaging company pioneering the personalized diagnosis of coronary artery disease, today announced a collaboration with Massachusetts General Hospital (MGH) and leading coronary imaging researcher, Gary Tearney, M.D., Ph.D., professor of pathology at Harvard Medical School, Mike and Sue Hazard Family MGH Research Scholar, and founder of the Tearney Lab at the Wellman Center for Photomedicine at MGH. Dr. Tearney is best known for pioneering research efforts developing Optical Coherence Tomography (OCT), an imaging technology that uses light-scattering to image coronary arteries. Infraredx and Dr. Tearney first collaborated over a decade ago on the development ...

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    4. Zeiss Meditec sales hit by currency fluctuations

      Zeiss Meditec sales hit by currency fluctuations

      Shares in Carl Zeiss Meditec , the clinical wing of the optics and microscopy giant, dropped in value by around 6 per cent on the Frankfurt stock exchange after the company just missed its annual sales target. For the year ending September 30, the Germany-headquartered firm delivered revenues of €909 million. That was up very slightly on the figure of €906 million for the previous year, but below the range of €910 million to €940 million estimated back in May – something blamed largely on currency effects. CEO Ludwin Monz said of the result: “In spite of adverse currency trends and to ...

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    5. NinePoint Medical Appoints Christopher von Jako, Ph.D., to Chief Executive Officer

      NinePoint Medical Appoints Christopher von Jako, Ph.D., to Chief Executive Officer

      NinePoint Medical, Inc., an emerging leader in the development of medical devices for advanced optical imaging, today announced the appointment of Christopher von Jako, Ph.D., as president and chief executive officer. Dr. von Jako brings to NinePoint Medical more than 20 years of experience in the global medical device industry and has demonstrated success leading and growing the value of organizations with early-stage commercial products. “Chris is a passionate and technology-minded individual who deeply understands the dynamics of today’s medical device field,” said Tom Miller, chairman of NinePoint’s board of directors. “We believe his commercial insights and ...

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    6. Case study for the Argon Design project for Skin Disease Detection. – Electronic design services with Argon Design Ltd.

      Case study for the Argon Design project for Skin Disease Detection. – Electronic design services with Argon Design Ltd.

      Michelson Diagnostics asked us to engineer part of their next generation medical product, VivoSight, an imaging system allowing clinicians to view up to 3mm below the surface of the skin. This world-leading product uses a technique called Optical Coherence Tomography to provide highly detailed sub-surface images of the skin helping to avoid the need for invasive biopsies, informing the choice of treatment and subsequently monitoring progress of the treatment. Michelson’s road map involved rationalising their product from a collection of interconnected components into a system-in-a-box. Within that context the primary objectives of our project were to: Reduce cost Simplify ...

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    7. Leading Irish University Bio-Photonics Laboratory And Compact Imaging Extend Agreement For Innovative Research Collaboration

      Leading Irish University Bio-Photonics Laboratory And Compact Imaging Extend Agreement For Innovative Research Collaboration

      NUI Galway’s TOMI Lab Provides Globally-Recognized Scientific Leadership for Advanced Development of Company’s Mobile OCT Technology The National University of Ireland Galway (NUI Galway) ( www.nuigalway.com.ie ) and Compact Imaging, Inc. (CI) ( www.compactimaging.com ) today jointly announced the extension of their innovative research collaboration in the field of optical coherence tomography (OCT) for a variety of applications, including mobile health monitoring and identity verification. The research agreement will continue the advanced development of CI’s novel multiple reference OCT sensor technology, MRO™, very small, low cost, low operating power OCT architecture ideal for high volume mobile ...

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    8. Glaucoma Module Premium Edition for SPECTRALIS to be Showcased at Annual Optometric Press Conference

      Glaucoma Module Premium Edition for SPECTRALIS to be Showcased at Annual Optometric Press Conference

      Heidelberg Engineering GmbH, the global ophthalmic imaging company, is presenting the Glaucoma Module Premium Edition for SPECTRALIS at the annual 2014 American Academy of Optometry Professional Press Conference in Denver, CO. The Glaucoma Module Premium Edition for SPECTRALIS* module combines a proprietary technology called Anatomic Positioning System (APS) with a series of unique scan patterns. The APS creates an anatomic map of each eye. The center of the optic nerve head and the fovea are detected via a short pre-scan function. The map is aligned according to these anatomical landmarks, individually for each eye. Subsequent scans are oriented to this ...

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    9. MedLumics Introduces NITID Skin Imaging System at EADV

      MedLumics Introduces NITID Skin Imaging System at EADV

      MedLumics, a medical imaging company specializing in advanced optical coherence tomography (OCT) technology, debuted its NITID TM skin imaging system at the 23 rd Annual European Academy of Dermatology and Venereology Congress in Amsterdam. NITID is a handheld diagnostic device designed to help dermatologists quickly and minimally invasively diagnose skin cancer. Once approved by regulatory bodies, it will be the first point-of-care OCT imaging device that can produce dynamic, real-time, high-resolution diagnostic images with tissue penetration capability of up to two millimeters. “NITID is the result of a decade of research in optical miniaturization technology, and we are thrilled to ...

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    10. TEMATYS is pleased to announce the release of its new market and technology report "Optical Coherence Tomography for Healthcare and Life Science: Technology and Market Trends"

      TEMATYS is pleased to announce the release of its new market and technology report "Optical Coherence Tomography for Healthcare and Life Science: Technology and Market Trends"

      Optical Coherence Tomography (OCT) is a mature technology well-established on the ophthalmology market. Currently, the ophthalmology OCT market has been slowing down for the last years. However, despite the saturation of the OCT ophthalmology market in developed countries, the OCT market for healthcare and life science is still expected to grow from around € 500M in 2013 to around € 1b in 2019. Strong demand from new biomedical applications, continuous development of innovative technologies, strong demand from developing countries will drive the OCT market growth. The present report provides market forecasts from 2014 to 2019 for the healthcare applications of OCT as ...

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    11. Abbott Expands Cataract Surgery Product Portfolio through U.S. Distribution Agreement with Carl Zeiss Meditec

      Abbott Expands Cataract Surgery Product Portfolio through U.S. Distribution Agreement with Carl Zeiss Meditec

      Abbott and Carl Zeiss Meditec announced today that they have entered into a nonexclusive commercial collaboration in the United States. Under this agreement, Abbott will offer each company’s suite of cataract surgery products when developing clinical and contracting solutions with customers in the United States. This comprehensive offering, including synergistic diagnostics, visualization systems, lens extraction systems, and intraocular lenses, provides surgeons with access to a complete cataract surgery portfolio to assist them in maximizing visual outcomes and streamlining patient flow. "Together with surgeons, Abbott is committed to delivering unsurpassed visual outcomes to patients," said Murthy Simhambhatla, Ph.D., senior ...

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    12. HEYEX PACS™: The Next Generation Image Management and Device Integration Platform

      HEYEX PACS™: The Next Generation Image Management and Device Integration Platform

      Heidelberg Engineering GmbH announces an ophthalmic picture archiving and communication system (PACS) platform at AAO 2014 in Chicago. “This new picture archiving and communication system (PACS) is a big step forward for our customers,” said Dr. Kester Nahen, Managing Director of Heidelberg Engineering. “The HEYEX PACS software platform will not only support Heidelberg Engineering devices but also integrate imaging devices of other manufacturers and diagnostic data into a centralized database. This will enable our customers to access, review, and compare all clinical images in one central application. HEYEX PACS allows us to offer a comprehensive image management and device integration ...

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    13. Volcano Corp Banks on IVUS Portfolio amid Several Odds - Analyst Blog

      Volcano Corp Banks on IVUS Portfolio amid Several Odds - Analyst Blog

      On Oct 10, we issued an updated research report on leading precision guided therapy tools provider, Volcano Corporation ( VOLC ). The company retains its position as a leader in the intravascular ultrasound (:IVUS) markets of U.S., Japan and Europe and holds 50% of the global market share.However, the current market environment remains challenging for Volcano. The final reimbursement reduction in Japan led to an approximate 5% cut in Imaging Disposables and an about 2% cut in fractional flow reserve ( FFR ) disposables of Volcano Corporation. These reimbursement cuts will be in effect for the next two years. In addition, the ...

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    14. Great EADV meeting in Amsterdam | Eduardo Margallo

      Great EADV meeting in Amsterdam | Eduardo Margallo

      MedLumics demonstrated NITID™, a new skin imaging solution providing simultaneous Optical Coherence Tomography and video dermoscopy in a hand-held battery-operated system. This revolution in skin care, designed for the daily dermatology practice, will be commercially available soon.

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    15. LeaseQ Announces That Medical Technology Could Be A Cure For Rising Healthcare Costs

      LeaseQ Announces That Medical Technology Could Be A Cure For Rising Healthcare Costs

      Despite the rollout of The Patient Protection and Affordable Care Act (PPACA), commonly called the Affordable Care Act (ACA) or otherwise known as "Obamacare" on March 23, 2010, medical expenses have continued to rise. However, recent data shows that medical and financial experts believe that the continued use of enhanced medical technology can not only improve patient outcomes but also reduce overall cost of medical treatment. Surgical procedures have become less expensive thanks to a new generation of tools that use light, laser, radio frequency and ultrasonic energy. These tools are battery powered and are able to perform a wide ...

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    16. Widefield OCT with SPECTRALIS

      Widefield OCT with SPECTRALIS

      Heidelberg Engineering GmbH has announced a new widefield OCT imaging modality for its SPECTRALIS OCT family of products. The technology was first presented at the EURETINA-ESCRS congress in London. Spectral-domain OCT has become an indispensable technology for eye care professionals aiding in the diagnosis and follow-up of patients with a variety of diseases including glaucoma, Age-related Macular Degeneration (AMD) and diabetic retinopathy. Until recently, the area scanned during an examination has been limited to a 30° field of view. The new Widefield OCT module for the SPECTRALIS expands the OCT field of view to 55°. The new Widefield OCT module ...

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    17. Glenn vs. The Volcano

      Glenn vs. The Volcano

      Today saw a "volley across the bow" between Volcano Corporation (Nasdaq: VOLC), a major manufacturer of IVUS, FFR and iFR technologies, and Engaged Capital LLC, an investment firm which holds over two million shares, or 5.1%, of Volcano stock. Engaged founder Glenn W. Welling sent a letter to Volcano demanding that the company begin a search for a new CEO and find a buyer for the company (press release printed below). The letter was prompted by the fact that Volcano's stock price has dropped by more than half over the past year. Engaged has been in discussions with ...

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    18. Infraredx Receives Regulatory Approval of TVC Imaging System in Japan

      Infraredx Receives Regulatory Approval of TVC Imaging System in Japan

      Infraredx, Inc., a medical device company committed to advancing the diagnosis and management of coronary artery disease, today announced that its first-in-class, dual-modality intravascular imaging technology, TVC Imaging System™, and its TVC Insight™ Catheter received Shonin approval from the Japanese Ministry of Health, Labour and Welfare (MHLW). The TVC System makes it possible to determine the structure and chemical composition of the coronary plaques that complicate stenting, and are associated with heart attacks. The TVC Imaging System console and catheter will be exclusively distributed by Goodman, a subsidiary of Osaka-based Nipro Corporation, which has extensive experience commercializing IVUS and other ...

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    19. Volcano Issues Statement Regarding Letter From Engaged Capital

      Volcano Issues Statement Regarding Letter From Engaged Capital

      Volcano Corporation (Nasdaq: VOLC), a leading company focused on improving patient and economic outcomes on a global basis by developing and delivering innovative minimally invasive coronary and peripheral visualization, physiology diagnostics and therapies, today confirmed receipt of a letter to its Board of Directors from Engaged Capital, LLC. The Company issued the following statement in response: Volcano welcomes the perspectives of its shareholders, and has a longstanding policy of open communications with all of our investors, includingEngaged Capital. The Company will carefully review and consider the ideas presented in the letter and continue its dialogue with Engaged Capital. The Volcano ...

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    20. Engaged Capital Sends Letter to the Board of Volcano Corporation

      Engaged Capital Sends Letter to the Board of Volcano Corporation

      Engaged Capital, an investment firm specializing in small and mid-cap North American equities and beneficial owner of approximately 2,638,403 shares of the common stock of Volcano Corporation (“VOLC” or the “Company”) (Nasdaq:VOLC), today sent an open letter http://engagedcapital.com/press/VOLCBODLetter.pdf to the Company’s Board of Directors (the “Board”), filed with the U.S. Securities and Exchange Commission. “It is time for new leadership. We urge the Board to immediately commence a parallel process to evaluate strategic alternatives and conduct a search for CEO candidates with a history of driving profitability and extracting value ...

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    21. Orion is in Beta - Voxeleron prepares the release of their advanced OCT analysis software

      Orion is in Beta - Voxeleron prepares the release of their advanced OCT analysis software

      Orion™, Voxeleron’s advanced optical coherence tomography (OCT) analysis software, is currently being beta tested at a number of sites in the USA and Europe in preparation for release. Orion™ is an application that offers fully-automated, rapid and accurate segmentation of seven layers in OCT images of the human retina. Following the successful release of InSight , Voxeleron’s animal OCT package, Orion™ establishes Voxeleron as leaders in the development of OCT image analysis software. "The Orion software gives us the ability to measure the thickness of the nuclear layers in isolation, so is a welcome addition to our quantification tools ...

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    22. St. Jude Medical Announces Launch of OPTIS Integrated System

      St. Jude Medical Announces Launch of OPTIS Integrated System

      The OPTIS™ Integrated System combines OCT imaging with angiography to provide more detailed, on-demand coronary assessment for more accurate PCI guidanc e St. Jude Medical, Inc. (NYSE:STJ), a global medical device company, today announced the company has secured CE Mark and FDA clearance for the new OPTIS Integrated System. The system is a departure from traditional, mobile cart-based diagnostic tools and advances percutaneous coronary intervention (PCI) optimization via direct installation into a hospital’s cardiac catheterization laboratory, fully integrating optical coherence tomography (OCT) and fractional flow reserve (FFR) into PCI workflow. The approval of the OPTIS Integrated system marks ...

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    23. Bioptigen Introduces Deep Imaging OCT System for Contact Lens Metrology

      Bioptigen Introduces Deep Imaging OCT System for Contact Lens Metrology

      Bioptigen announced today the availability of a newly developed deep imaging OCT system for the optical device metrology and pre-clinical ophthalmic research markets. The Envisu S4410 SDOCT for Contact Lens Metrology is designed for non-destructive, non-contact, full immersion measurements for standard and high complexity contact lens, IOL structures, and donor tissues. The metrology system allows imaging of a complete contact lens immersed in a hydration bath (saline), automated segmentation of anterior and posterior surfaces, and quantification of curvatures across both surfaces. The system delivers 5 um axial pixel resolution, 11 mm scan depth in saline, and a full 20mm lateral ...

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      Mentions: Bioptigen
    24. OCT systems sales 'to double' to €1bn by 2019

      OCT systems sales 'to double' to €1bn by 2019

      Despite the apparent saturation of optical coherence tomography systems in the ophthalmology markets of developed countries, the distinct OCT market for healthcare and life science sectors is still expected to grow from around €500 million in 2013 to around €1b in 2019. This is one of the conclusions of a new market sector report from analyst company Tematys , Paris, France. The report, Optical Coherence Tomography for Healthcare and Life Science: Technology and Market Trends , available from September 30, says that there will be “strong demand from new biomedical applications, continuous development of innovative OCT technologies, as well as strong demand ...

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