Endosonics extends deal with Cordis

Intravascular ultrasound (IVUS) developer Endosonics of Pleasanton,CA, has extended its product distribution relationship with Cordis.The deal gives Cordis, of Miami Lake, FL, exclusive distributionrights in North America and Europe to Endosonics IVUS productsfor coronary applications. Cordis has agreed to provide fundingfor joint product development programs and made a $5 million equityinvestment in Endosonics.

Endosonics in January reported year-end financial results thatshowed revenues more than doubling, to $17.1 million from $8 millionin 1994. Its loss for the year narrowed, to $10.5 million comparedwith $13.3 million in 1994.