Aïmago sold to US medtech company24.04.2014 17:35
Aïmago has been acquired by its competitor Novadaq, the market leader in perfusion imaging. Under terms of the agreement, NOVADAQ will pay to Aïmago shareholders, an upfront consideration of US$10 million, which includes US$6.5 million in cash, plus US$3.5 million in NOVADAQ stock. If certain regulatory and commercial milestones are achieved in the future, NOVADAQ may also pay contingent earn out considerations totaling an additional US$2.4 million, which may be satisfied in cash or in NOVADAQ stock at NOVADAQ’s option.
Novadaq Technologies Inc., the leading developer and provider of clinically relevant imaging solutions for use in surgical and diagnostic procedures, has entered into a definitive agreement to acquire all outstanding shares of Aïmago SA. Aïmago is a privately held medical imaging company, founded in 2008 as a spin off from Ecole Polytechnique Fédérale de Lausanne (“EPFL”).
Michael Friedrich, co-founder and CEO of Aïmago comments: "This marks the successful culmination of our time as independent start-up. Our clinically relevant, next-generation perfusion imaging products and technologies are now part of Novadaq’s portfolio; and through Novadaq’s strong and growing sales organization (80+ sales reps today), our products will ultimately become widely available to clinicians and patients globally. Over the next few months, Marc and I will closely work with Novadaq to ensure a smooth integration and complete knowledge transfer. I am very grateful for the six intense and rewarding years I have spent with Aïmago, and would like to express my deep appreciation for everyone who contributed to this result."
Aïmago’s lead product, the EasyLDI Perfusion Camera, incorporates patented, high-speed, full field laser Doppler technology. The design of the device is tablet inspired, and is capable of “point-and-shoot” perfusion imaging at the surface of the skin, without the need to administer any imaging agent to patients. The EasyLDI Perfusion Camera is FDA 510(k) cleared and CE marked and Aïmago has installed the first four commercial systems at key opinion leading sites in Europe. EasyLDI’s ability to rapidly visualize surface perfusion is expected to be optimal for screening and pre-diagnostic uses in multiple settings including doctors’ offices where patients are assessed for wounds, burns and limb ischemia. The product will complement NOVADAQ’s SPY® technology which provides deeper, detailed quantitative vascular and microcirculation blood flow and perfusion assessment capabilities, typically during treatments in operating rooms and wound care clinics.
“NOVADAQ has created the market for perfusion imaging, and the acquisition of Aïmago fits with our strategy to expand our product and patent portfolios, and our clinical ecosystem, by providing relevant imaging solutions for use at multiple points throughout the patient care continuum,” stated Dr. Arun Menawat, Ph.D., MBA, President and Chief Executive Officer of NOVADAQ.