Viking Systems Sold To N.Y. Firm
Medical visualization software maker Viking Systems of Westborough is being sold to an upstate New York-based firm, Conmed Corp., for an estimated $22.5 million, the companies announced.
Conmed, based in Utica, is in the same market as Viking. In a statement, Conmed's president and CEO, Joseph J. Corasanti, said Viking's line of 3-D high-definition (HD) surgical video products is a "strategic addition" to his company's product line. "Viking is at the forefront of three-dimensional HD surgical imaging, and we believe that merging this technology with our established worldwide marketing and sales teams will expand the use of superior surgical visualization, benefiting both surgeons and their patients," he said.
Conmed, which has four other U.S. locations and a presence in 15 other countries, said it plans to relocate its current 2-D surgical video research and marketing team to Westborough from Santa Barbara, Calif., over the next year.
The announcement came on the same day Viking released financial performance data for its most recent quarter, which ended June 30. The company said sales for the quarter fell 11 percent, to $2.2 million from $2.5 million, while it lost $890,000, some $30,000 more than what it lost in the second quarter of 2011.
Viking also said it sold 10 of its 3DHD Vision Systems, its chief product.
"This is a significant milestone for Viking," said its president and CEO, Jed Kennedy. "We are excited to join with Conmed, which shares our vision for 3D-HD surgical imaging and has an established reputation for innovation and excellent customer service."
(Illustration credit: freedigitalphotos.net)
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