(June 20, 2006 – LOS ANGELES) – Since 2001 when Volcano Corporation (NASDAQ: VOLC) secured its first round of venture financing through today’s closing of its initial public offering of its common stock, Reed Smith LLP has worked closely with Volcano’s senior management through a range of significant transactions that have enabled the medical device manufacturer to achieve this milestone.
Reed Smith’s Life Sciences Transaction team, led by partners Michael Sanders and Dale Freeman of Reed Smith’s Century City and San Francisco offices, has helped the company’s leadership navigate through private debt and equity financings, business acquisitions and multiple strategic and commercial transactions, all culminating in Volcano’s IPO.
“Volcano’s successful public offering in this difficult market evidences the fact that the investment community recognizes that Volcano has established itself in the diagnosis and treatment of structural heart disease and that the company has an outstanding management team,” says Michael Sanders. “Our team from Reed Smith, both in the United States and overseas, is proud to have played a role in helping Volcano achieve this goal.”
John Dahldorf, Volcano's Chief Financial Officer, adds, "We have had a long and special relationship with the lawyers at Reed Smith. Michael, Dale and their entire team have played a critical role in the successful closing of our initial public offering."
Based in Rancho Cordova, California, Volcano develops, manufactures and commercializes ultrasound products for the diagnosis and treatment of vascular and structural heart disease. Volcano sold 7,820,000 shares in its IPO resulting in proceeds of $58 million after commissions and expenses.
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About Reed Smith
Reed Smith LLP is a top-25 international law firm with nearly 1100 lawyers located in 18 cities worldwide (14 in the U.S. and four in Europe). The firm represents clients ranging from Fortune 100 companies to mid-market and emerging companies. Clients include financial services firms, life sciences companies, health care providers, technology companies and entrepreneurs, power generators and suppliers, manufacturers, real estate companies, universities, and non-profit organizations throughout the world. For more information, visit www.reedsmith.com.
About Volcano Corporation
Founded in 2000, Volcano Corporation develops, manufactures and commercializes a broad suite of intravascular ultrasound and functional measurement products that enhance the diagnosis and treatment of vascular and structural heart disease.