A low-loss high-voltage multiplexer is implemented using a transformer that is connected to one transmitter, one receiver and transducer elements. At least one primary winding is magnetically coupled at least two secondary windings. For example, a first transducer element and a second transducer element are connected to the secondary windings of a multiplexer that multiplexes between these transducer elements via the secondary windings. The multiplexer also optionally switches between the transmitter and the receiver during the transmission and the reception.