MENLO PARK, Calif., April 3 /PRNewswire/ -- CardioVasc and Acta Vascular Systems today announced that they have completed a merger transaction in which CardioVasc has acquired Acta Vascular. The new combined entity will be called Nfocus Neuromedical, Inc. Nfocus combines the pioneering aneurysm treatment technology of CardioVasc with the established detachable balloon technology of Acta Vascular to serve the rapidly growing less invasive neurosurgery market known as Interventional Neuroradiology. The transaction has received the requisite approval of both CardioVasc and Acta shareholders; financial terms of the deal were not disclosed, but the merger was completed prior to financing by venture capital firms: Oxford Bioscience Partners of Boston (www.oxbio.com), Technology Partners of Palo Alto (www.technologypartners.com) and DFJ e-Planet Ventures.
"The acquisition of Acta Vascular will provide Nfocus with a broader presence and an immediate impact in the area of neurovascular diseases and hemorrhagic stroke," said Mir Imran, Silicon Valley serial entrepreneur and founder of CardioVasc.
For more information about brain aneurysms or hemorrhagic stroke see: www.strokeassociation.org and www.asitn.org
About Acta Vascular Systems, Inc.
Acta Vascular is a privately held Silicon Valley start-up company founded by Thomas Ross in 2004 to bring established neurovascular technology from Europe to the US. The company's Goldvalve Detachable Balloon was one of the first endovascular treatment devices developed for fistulas, aneurysms and related conditions. Additional information about Acta Vascular is available at www.actavascular.com
About CardioVasc, Inc.
CardioVasc was founded within Mir Imran's In-Cube Laboratories medical device incubator. Martin Dieck joined the company as CEO to strategically focus the company on interventional neuroradiology procedures and customers. Since that time, CardioVasc has developed and acquired a significant portfolio of enabling technology applicable to neurovascular diseases. Prior to joining Nfocus, Mr. Dieck was a founder and CEO of Concentric Medical www.concentric-medical.com and brings significant experience in the field of neurovascular treatment. Headquartered in Silicon Valley, Nfocus plans to expand on its relationships with eminent physicians to continue to develop disruptive innovations in the field.
Nfocus Neuromedical, Inc.
CONTACT: Martin S. Dieck, President and CEO, +1-650-289-5147,email@example.com, or Thomas W. Ross, Executive VP, +1-650-289-5133,firstname.lastname@example.org, both of Nfocus Neuromedical