Olympus to acquire US medical device firm Veran Medical Technologies for $340m

Olympus Corporation has signed a deal worth up to $340 million to acquire Veran Medical Technologies (VMT), a Missouri-based provider of advanced medical devices specializing in interventional pulmonology.

The Japanese optical products company will carry out the acquisition via its subsidiary Olympus Corporation of the Americas (OCA). It is said to be the latest in a series of strategic acquisitions for consolidating its position as a major global medical device company.

Jason Pesterfield – CEO of Veran Medical Technologies said: “We are proud to be joining forces with Olympus, a company with a 100-year legacy and a global reputation for quality, leadership and innovation.

“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.”

Olympus acquisition of Veran Medical Technologies. Image courtesy of Olympus Corporation.

The portfolio of Veran Medical Technologies includes an electromagnetic thoracic navigation platform called the SPiN Thoracic Navigation System. The technology is said to have been adopted by major cancer centers throughout the US.

Veran Medical Technologies also offers physicians a full range of bronchoscopic brushes, forceps, needles, and steerable catheters with tiny electromagnetic sensors.

Olympus said that its endoscope technologies will perfectly combine with the navigation products of Veran Medical Technologies to develop solutions for enhanced diagnosis of peripheral lung cancer.

Nacho Abia – global chief operating officer and CEO of Olympus Corporation of the Americas, said: “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.

“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.”