Volcano Corporation Acquires Novelis, Inc. for $15,000,000

  • Feed Type
  • Date
    5/20/2008
  • Company Name
    Novelis, Inc.
  • Mailing Address
    13 Branch Street Methuen, MA 01844
  • Company Description
    Novelis is a private company developing a proprietary forward-looking ultrasonic imaging catheter with integrated RF ablation to facilitate image guided, guidewire-based crossing of chronic total occlusions in the coronary and peripheral vasculature. Investigational Device – Not Approved for Human Use.
  • Website
    http://www.novelismedical.com/
  • Transaction Type
    M&A
  • Transaction Amount
    $15,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    Under the terms of the agreement, Volcano paid approximately $12 million in cash at closing. In addition, Volcano may make an additional cash payment of $3 million based on the achievement of a specific regulatory milestone.

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