VectraCor Acquires QRS Diagnostic
Totowa, NJ and Maple Grove, MN – December 12, 2014 – VectraCor Inc., a medical device company with a novel cardiac electrical biomarker called the CEB®, and QRS Diagnostic , a healthcare technology and medical supplies provider, announced that they have entered into a definitive agreement under which VectraCor has agreed to acquire QRS Diagnostic. The deal was closed December 12th 2014. Following this closing, the company will do business as QRS Diagnostic – A VectraCor Company. VectraCor Inc. will retain staff and an office in Minnesota, while moving some functions to New Jersey.
VectraCor Inc. is the developer of the VectraplexECG System, an ECG monitor that features a patented technology called the CEB®, cardiac electrical biomarker. It is an easy-to-read index number that can potentially help physicians more quickly diagnose a heart attack in real-time. QRS Diagnostic develops, manufactures and sells ECG and spirometry products and have been in business since 1995. VectraCor originally developed the VectraplexECG System software around the QRS ECG amplifier/patient cable known as the Universal ECG™.
Brad S. Schreck, President & CEO of VectraCor, stated, “VectraCor and QRS, when combined, will provide patients, physicians and healthcare providers with a comprehensive portfolio of products for the Hospital and Primary Care market, as well as the Emergency Department and Cardiology specialties,”. He continued, “The synergy of these two companies will help to create one dynamic organization which will continue to strive to bring better diagnostic tools to help patients and physicians.”
Pat Lichter, former CEO of QRS Diagnostic, added, “QRS is very excited to finalize the acquisition with VectraCor. VectraCor’s innovative CEB® cardiac technology makes this acquisition a nice strategic fit with the products of QRS. I see a tremendous opportunity in growing the QRS market share both in the physician office and hospital.”
Brad Schreck added, “This acquisition will also be beneficial because QRS focuses on selling to doctor’s offices, including Cardiologists, and VectraCor is focused on the Hospital market, of which Cardiology is an extremely important and influential part of the sale. We believe these relationships, and QRS’s distribution in Europe, Australia, and the United States will help accelerate the adoption of our patented technology and not only bring in more revenue, but also help clinicians diagnose patients with the number one killer in the world, cardiovascular disease.”
Founded in 2009, VectraCor has developed a novel marker called the Cardiac Electrical Biomarker, CEB®, that in real-time can detect ECG changes suggestive of an AMI/heart attack. The VectraplexECG System can derive a 15-lead (US) or 22-lead (EU) lead ECG using only 5 electrodes and may help clinicians more quickly diagnose chest pain patients having a heart attack.
VectraCor medical devices are manufactured under an ISO 13485 Registered Quality Management System and are FDA-cleared and CE marked in accordance with MDD 93/42/EEC.