Exhibit 12.1

Volcano Corporation

Computation of Earnings to Fixed Charges Ratio

(Unauditedin thousands)



|                                                                              |  |                          |         |   |      |   |         |      |  |   |        |   |  |      |         |   |  |   |         |  
|----------------------------------------------------------------------------- |  | ------------------------ | ------- | - | ---- | - | ------- | ---- |  | - | ------ | - |  | ---- | ------- | - |  | - | ------- | -
|                                                                              |  | Years Ended December 31, |        
|                                                                              |  | 2008                     |         |   | 2007 |   |         | 2006 |  |   | 2005   |   |  | 2004 |        
|Net loss                                                                      |  |                          |         |   |      |   |         |      |  |   |        |   |  |      |         |   |  |   |         |  
|Loss before provision for income taxes                                        |  | $                        | (13,085 | ) |      | $ | (26,052 | )    |  | $ | (8,305 | ) |  | $    | (15,191 | ) |  | $ | (16,154 | )
|Fixed charges                                                                 |  |                          | 758     |   |      |   | 668     |      |  |   | 4,356  |   |  |      | 5,586   |   |  |   | 5,061   |  
|                                                                              |  |                          |         |   |      |   |         |      |  |   |        |   |  |      |         |   |  |   |         |  
|Total                                                                         |  | $                        | (12,327 | ) |      | $ | (25,908 | )    |  | $ | (3,949 | ) |  | $    | (9,605  | ) |  | $ | (11,093 | )
|                                                                              |  |                          |         |   |      |   |         |      |  |   |        |   |  |      |         |   |  |   |         |  
|Fixed Charges                                                                 |  |                          |         |   |      |   |         |      |  |   |        |   |  |      |         |   |  |   |         |  
|Interest expense on indebtedness and amortization of deferred financing costs |  | $                        | 113     |   |      | $ | 199     |      |  | $ | 4,013  |   |  | $    | 5,311   |   |  | $ | 4,784   |  
|Interest component of rentals (1)                                             |  |                          | 645     |   |      |   | 469     |      |  |   | 343    |   |  |      | 275     |   |  |   | 277     |  
|                                                                              |  |                          |         |   |      |   |         |      |  |   |        |   |  |      |         |   |  |   |         |  
|Total                                                                         |  | $                        | 758     |   |      | $ | 668     |      |  | $ | 4,356  |   |  | $    | 5,586   |   |  | $ | 5,061   |  
|                                                                              |  |                          |         |   |      |   |         |      |  |   |        |   |  |      |         |   |  |   |         |  
|Deficiency of earnings available to cover fixed charges                       |  | $                        | (13,085 | ) |      | $ | (26,576 | )    |  | $ | (8,305 | ) |  | $    | (15,191 | ) |  | $ | (16,154 | )
|                                                                              |  |                          |         |   |      |   |         |      |  |   |        |   |  |      |         |   |  |   |         |  



|(1) | Represents the estimated portion of operating lease rental expense that is considered by us to be representative of interest and amortization of discount related to indebtedness.
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