Olympus Corporation to acquire Veran Medical Technologies in $340m deal

In a strategic move that positions Olympus Corporation as a dominant force in global medical devices, the Japanese optical products giant has entered into a $340 million deal to acquire Veran Medical Technologies (VMT), a leading provider of advanced devices for interventional pulmonology. The acquisition, executed through Olympus Corporation of the Americas (OCA), highlights the company’s growing influence in the healthcare sector and its pursuit of enhanced respiratory medical device capabilities.

Olympus Corporation, renowned for its optical products and endoscopy technologies, continues to expand its portfolio with a series of acquisitions aimed at consolidating its standing as a major player in the medtech field. The latest acquisition of Veran Medical Technologies is part of this strategy to broaden its capabilities in pulmonary care, particularly targeting peripheral lung cancer diagnosis.

Veran Medical Technologies, based in Missouri, has gained a strong reputation for its innovative electromagnetic thoracic navigation platform known as the SPiN Thoracic Navigation System. This cutting-edge technology, which has been widely adopted by leading cancer centres across the United States, is designed to guide physicians during complex lung procedures, providing greater precision and improving patient outcomes. The portfolio also includes bronchoscopic brushes, forceps, needles, and steerable catheters equipped with electromagnetic sensors, all crucial tools for performing minimally invasive lung procedures.

Experts have noted that the acquisition will significantly benefit Olympus Corporation’s respiratory medical device offerings. Nacho Abia, the global Chief Operating Officer and CEO of Olympus Corporation of the Americas, expressed enthusiasm about the deal, highlighting the synergy between Veran’s electromagnetic navigation system and Olympus’ own endoscope technologies. The integration of these complementary systems will pave the way for more advanced and accurate diagnostic solutions for peripheral lung cancer, a growing concern in respiratory healthcare.

This acquisition strengthens Olympus’ competitive edge in the respiratory sector, enabling the company to offer a comprehensive range of diagnostic and therapeutic solutions for lung diseases. With Veran’s advanced technologies now under its umbrella, Olympus is poised to develop an even more robust portfolio of respiratory devices that can cater to an evolving healthcare market.

Jason Pesterfield, CEO of Veran Medical Technologies, emphasised the significance of joining forces with Olympus, a company with a 100-year legacy of innovation and leadership in the medical device industry. He expressed pride in contributing Veran’s unique capabilities to Olympus’ broader strategy of becoming a global leader in the medtech space.

By acquiring Veran Medical Technologies, Olympus Corporation not only expands its medical device offerings but also secures access to proprietary technology that will drive future innovation. The acquisition, therefore, positions Olympus to capitalise on emerging trends in pulmonology, while further enhancing its ability to provide cutting-edge solutions for complex medical procedures.