por John R. Fischer
, Senior Reporter | December 07, 2020
Endoscope manufacturer Olympus Corporation is set to acquire Veran Medical Technologies, a developer of interventional pulmonology solutions, for $340 million.
The acquisition will be carried out through Olympus’ subsidiary, Olympus Corporation of the Americas (OCA) and is expected to make Olympus a leading player in the field of respiratory devices.
"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,” said Nacho Abia, global chief operating officer and CEO of OCA, in a statement.
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VMT's SPiN Thoracic Navigation System offers 3D maps based on inspiration and expiration CT scan protocol and the ability to switch from navigated bronchoscopy to navigated transthoracic needle aspiration in the same procedure. Other features include respiratory gating technology for tracking moving nodules and electromagnetic instrumentation for unprecedented access, visualization and control.
Increased awareness and a greater number of low-dose CT screenings have increased the need to definitively diagnose lesions in the peripheral regions of the lungs through tissue biopsies. Through the deal, Olympus plans to use its endoscope technologies alongside VMT’s navigation systems to form solutions that can help providers more accurately make such diagnoses.
The agreement also includes immediate incremental revenue and an experienced sales team within the U.S. market.
"Olympus has a clear strategy to become a global medtech leader, and we're excited to contribute our unique capabilities and become part of this journey,” said Jason Pesterfield, CEO of VMT.
The VMT purchase is the latest in a series of acquisitions carried out by Olympus and aligns with its Corporate Strategy to “focus and scale” its therapeutic solutions division. The company plans to do this by focusing on the respiratory devices field, along with those for gastroenterological endotherapy devices and urological devices.