Founded in 1968 by San Diego entrepreneur Richard A. Cramer, IVAC Corporation was the first company to apply the revolutionary advances being delivered by California’s microprocessor industry to new innovative, microprocessor-controlled medical products towards improving patient care. The IVAC electronic thermometer incorporated microprocessor electronics to display, objectively and unambiguously the patient’s temperature. Approximately one year after the introduction of the initial IVAC electronic thermometer IVAC introduced its first infusion pump for the hospital. This product was intended to provide much improved control of both precision and accuracy of delivery of IV fluids and drugs to hospital-based patients.
IVAC was sold to Eli Lilly & Co. for 53 million in 1977.