Novadaq, PLC Sign Asset Purchase Agreement for CO2 Heart Laser System

Novadaq Technologies has signed a definitive asset purchase agreement with the PLC Systems for the CO₂ Heart Laser system. Novadaq develops real-time imaging systems that are utilized in the operating room.

The CO₂ Heart Laser system is deployed for Transmyocardial Revascularization (TMR). Novadaq has been an exclusive distributor of PLC’s products in the U.S. for the last three years.

The agreement will allow Novadaq to acquire the entire assets of PLC’s TMR business such as documentation and clinical data, regulatory approvals, intellectual property, equipment, product inventories and manufacturing rights. The acquisition would maximize the company’s TMR sales opportunity outside the U.S. market.

Novadaq offers the SPY imaging platform that delivers clinically relevant, physiologic and anatomic images for minimally invasive surgical and open procedures. The SPY allows surgeons to treat critical diseases and enable them to examine tissue perfusion; treat vascular blockages; visualize lymph nodes for removal; and recognize cancerous tumors.

Source: http://www.novadaq.com/