Electrical Geodesics, Inc. Acquires of Portable Wireless EEG Technology
Electrical Geodesics, Inc. ("EGI" or the "Company"), a leading neurodiagnostic medical technology company, today announces the acquisition of a portable, pocket-sized 8-channel EEG recorder as an addition to its research product range through the purchase of Avatar EEG Solutions Inc. ("Avatar") for a cash consideration of US$325,000.
Avatar, a privately-held Canadian corporation based in Calgary, was established by professional engineer Carl Turner to develop a competitive EEG product for neuroscience research. Harnessing advances in the miniaturization and performance of microelectronics, Avatar has designed and manufactured highly portable, 8 channel, untethered, wireless EEG devices that are competitively priced and suited to the needs of investigators in areas such as sleep research and ambulatory studies of epilepsy, concussion and other medical conditions. The signal from any Avatar EEG recorder can be viewed directly with a Bluetooth enabled smartphone or tablet and the Avatar Android App allows users to view the signal from an Avatar EEG device without linking to a laptop or desktop device. Signals from Avatar EEG recorders can also be viewed on desktop or laptop computer and files stored in multiple formats.
Avatar generated sales of some US$100,000 in the last twelve months and its two employees will join the EGI team going forwards.
Don Tucker, PhD, Chairman and CEO, commented: "As mentioned in our recent interim results announcement, we intend to build a full product offering for neuroscience researchers and clinicians. The Avatar product is a nice addition to our portfolio, offering an entry level adjunct to our high-end, dense array EEG product range. We are also pleased to secure the skills of Carl Turner who is relocating to Eugene to bring his considerable skills to our product design efforts. Carl's expertise in software, firmware and hardware product development and bringing innovative products to market will be invaluable to EGI as we build our business further. "