 |
| The OVS1 HD Video System--Courtesy of Olive Medical |
DePuy Synthes will introduce imaging for minimally invasive arthroscopic surgeries with the purchase of Utah-based startup Olive Medical for an undisclosed amount. Orthopedics is one of its stronger medical device businesses and this Johnson & Johnson ($JNJ) company is focused on leveraging its scale across it.
The Olive Medical visualization portfolio provides an entry for DePuy Synthes into arthroscopic visualization that can be used with patients with shoulder, knee, hip and small joint pain or injury. It's slated to augment the DePuy Synthes Mitek Sports Medicine arthroscopy line.
Orthopedics is the best performing aspect of medical devices at J&J, which was the worst performing business for the conglomerate last year compared to its pharmaceutical and consumer businesses.
"At DePuy Synthes, which showed 3% operation growth over the prior-year led by the trauma, hips and knee businesses, we've begun to realize the benefits of the scale and breadth of the combined businesses which have contributed to strategic wins in key markets," J&J chairman and CEO Alex Gorsky said of the business during a January earnings call.
Worldwide medical device sales for J&J were $27.5 billion in 2014, a decrease of 3.4% from the prior year. Excluding the net impact of M&A activity, including the June divestiture of Ortho Clinical Diagnostics, J&J's medical device business had underlying operational growth of 1.5%. By contrast, its pharma sales were up an impressive 14.9% to $32.3 billion in 2014
The high definition Olive Medical Video System incorporates all the necessary devices for performing and recording minimally invasive surgeries. The basis of the system is Olive Medical OVB1 Camera Control Unit and TCK1 HD Camera Head. The camera provides consistent white light to the surgical site. It also has the MediCapture USB300, which captures videos and still images of the surgeries and is activated by the OVB1 CCU.
Founded in October 2009, Olive Medical counted the Salt Lake Life Science Angels as an investor.
- here is the release