Olympus’ U.S. division aims to expand its respiratory care offerings with the purchase of Veran Medical Technologies, maker of computer-guided bronchoscopes and cancer biopsy systems.
The company described the $340 million acquisition as the latest in a series of deals that over the past year have aimed to focus and scale up its interventional products.
Under a global corporate strategy unveiled in November 2019, Tokyo-based Olympus made its U.S. subsidiary the headquarters of its therapeutics work, with new priorities in gastroenterological, urological and respiratory devices.
Under the third category, Veran’s SPiN thoracic navigation system provides a 3D map of the airway derived from CT scans while also tracking the movement of suspicious lung nodules as a patient breathes.
In addition, the company’s endobronchial instruments—including brushes, needles, forceps and steerable catheters—are tipped with electromagnetic sensors to help guide them to their target. Veran has also developed a guided percutaneous needle, designed to access nodules outside the airway through the chest wall, with both sets of devices capable of being used during the same procedure.
"We are very excited about acquiring VMT because its portfolio of devices will complement our product portfolio and further strengthen our position in respiratory medical devices," said Nacho Abia, CEO of Olympus Corporation of the Americas and chief operating officer of the global company.
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"The most significant part of this deal is that we will secure immediate access to VMT's unique electromagnetic navigation system with proprietary devices to build a stronger future respiratory product portfolio," Abia said, including by combining Olympus’ endoscopes with Veran’s navigation tech for use in diagnosing lung cancer.
Veran will be made an Olympus subsidiary, and the company expects the deal to provide immediate incremental revenue once it closes.
The acquisition follows the company’s early November buyout of FH Ortho, a French manufacturer of minimally invasive tools for orthopedic procedures including ligament repair and trauma surgery, as well as the August purchase of Arc Medical Design, maker of attachments designed to enhance the vision of endoscopes during colonoscopy.