IMRIS

IMRIS founded in 2005, IMRIS is a global provider of intraoperative imaging solutions.

IMRIS Inc.
TypePublic company
IndustryMedical Equipment
FateAcquired
SuccessorDeerfield Imaging
Founded2005
HeadquartersMinnetonka, Minnesota, U.S.
Key people
Andrew Flanagan, president and CEO
ProductsMedical Imaging Equipment
Revenue$51.8 Million (2011)
Number of employees
200 (2011)
Websitewww.imris.com

The company's flagship product is The IMRIS Surgical Theatre. A hybrid operating theatre with intraoperative imaging capabilities, The IMRIS Surgical Theatre incorporates design and technology provided by IMRIS, including the moveable intraoperative MRI, as well as technology from 3rd-party medical device companies. IMRIS designs, creates and supports The IMRIS Surgical Theatre, which the company's marketing materials describe as "the world’s most advanced hybrid operating theatre."

History

In 2005, IMRIS evolved from research related to intraoperative imaging conducted through Canada's National Research Council.[1]

In 2011, the company announced it was developing an MRI-compatible image-guided surgical robot specifically designed for minimally invasive neurosurgery.[2][3][4] In November 2012, the company announced that it was moving its headquarters to the Minneapolis area. They completed their move in July 2013.

In late May 2015, news broke that IMRIS had "filed for chapter 11 bankruptcy protection with a buyout offer of $9.5 million from secured lender Deerfield Management Co. LP." due to problems competing with larger health care businesses.[5] Chapter 11 proceedings were finalized on August 19, 2015, with Deerfield Imaging agreeing to acquire most of IMRIS' assets.[6][7][8]

In 2017, the company marked its two-year anniversary under new ownership, reporting strong financial growth and strategic investments. With the support of parent company Deerfield Management in August 2015, IMRIS emerged under a new LLC, brand, leadership and focus. Since then, IMRIS achieved record earnings before interest, taxes, depreciation and amortization (EBITDA) generation, 44 percent revenue growth in 2016, as well as 68 percent growth in 2017 year-to-date (YTD) contract bookings through contracts with top-tier hospitals around the world. In addition, IMRIS continues to add a significant number of new employees to support current business and expected growth.[9]

References
  1. ^ http://archive.nrc-cnrc.gc.ca/eng/ibp/ibd/about/spin-off-companies/imris.html. Accessed August 27, 2012.
  2. ^ http://www.mdacorporation.com/corporate/news/pr/pr2011091901.cfm Archived 2013-01-29 at Archive.today Accessed August 27, 2012.
  3. ^ IMRIS Buying Company Behind Surgical Robot. Winnipeg Free Press, February 5, 2010 http://www.winnipegfreepress.com/business/imris-buying-company-behind-surgical-robot-83622652.html.
  4. ^ University of Calgary, Faculty of Medicine http://medicine.ucalgary.ca/about/neuroarm_sold.
  5. ^ Brickley, P. (26 May 2015). "IMRIS Files for Bankruptcy with Buyout Offer From Deerfield". The Wall Street Journal. Dow Jones & Company, Inc. Retrieved 29 February2016.
  6. ^ "Chapter 11, Case No. 15-11133 (CSS)" (PDF). United States Bankruptcy Court for the District of Delaware. 19 August 2015. Retrieved 29 February 2016.
  7. ^ "Deerfield Completes Purchase of IMRIS". Deerfield Imaging. 19 August 2015. Retrieved 29 February 2016.
  8. ^ "IMRIS Inc. Assets Acquired by Deerfield Management Company". DAIC. Scranton Gillette Communications. 14 August 2015. Retrieved 29 February 2016.
  9. ^ IMRIS Reports Strong Financial Growth Following Two-Year Anniversary Under New Ownership. IMRIS. September 12, 2017 https://www.prnewswire.com/news-releases/imris-reports-strong-financial-growth-following-two-year-anniversary-under-new-ownership-300517887.html

See also
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