Exhibit 12.1

Volcano Corporation

Computation of Earnings to
Fixed Charges Ratio

(Unauditedin thousands)



|                                                                              |  |                          |         |   |      |   |         |      |  |   |         |   |  |      |        |   |  |   |         |  
|----------------------------------------------------------------------------- |  | ------------------------ | ------- | - | ---- | - | ------- | ---- |  | - | ------- | - |  | ---- | ------ | - |  | - | ------- | -
|                                                                              |  | Years Ended December 31, |        
|                                                                              |  | 2009                     |         |   | 2008 |   |         | 2007 |  |   | 2006    |   |  | 2005 |       
|Net loss                                                                      |  |                          |         |   |      |   |         |      |  |   |         |   |  |      |        |   |  |   |         |  
|Loss before provision for income taxes                                        |  | $                        | (27,767 | ) |      | $ | (13,085 | )    |  | $ | (26,052 | ) |  | $    | (8,305 | ) |  | $ | (15,191 | )
|Fixed charges                                                                 |  |                          | 1,118   |   |      |   | 758     |      |  |   | 668     |   |  |      | 4,356  |   |  |   | 5,586   |  
|                                                                              |  |                          |         |   |      |   |         |      |  |   |         |   |  |      |        |   |  |   |         |  
|Total                                                                         |  |                          | (26,649 | ) |      |   | (12,327 | )    |  |   | (25,384 | ) |  |      | (3,949 | ) |  |   | (9,605  | )
|                                                                              |  |                          |         |   |      |   |         |      |  |   |         |   |  |      |        |   |  |   |         |  
|Fixed Charges                                                                 |  |                          |         |   |      |   |         |      |  |   |         |   |  |      |        |   |  |   |         |  
|Interest expense on indebtedness and amortization of deferred financing costs |  | $                        | 5       |   |      | $ | 113     |      |  | $ | 199     |   |  | $    | 4,013  |   |  | $ | 5,311   |  
|Interest component of rentals (1)                                             |  |                          | 1,113   |   |      |   | 645     |      |  |   | 469     |   |  |      | 343    |   |  |   | 275     |  
|                                                                              |  |                          |         |   |      |   |         |      |  |   |         |   |  |      |        |   |  |   |         |  
|Total                                                                         |  | $                        | 1,118   |   |      | $ | 758     |      |  | $ | 668     |   |  | $    | 4,356  |   |  | $ | 5,586   |  
|                                                                              |  |                          |         |   |      |   |         |      |  |   |         |   |  |      |        |   |  |   |         |  
|Deficiency of earnings available to cover fixed charges                       |  | $                        | (27,767 | ) |      | $ | (13,085 | )    |  | $ | (26,052 | ) |  | $    | (8,305 | ) |  | $ | (15,191 | )
|                                                                              |  |                          |         |   |      |   |         |      |  |   |         |   |  |      |        |   |  |   |         |  



|(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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