December 4, 2020 – Olympus Corporation has entered into an agreement to acquire Veran Medical Technologies, Inc. (VMT) (St. Louis, MO) for up to $340 million.
The acquisition will be implemented through Olympus subsidiary Olympus Corporation of the Americas (OCA).
The VMT acquisition is centered on respiratory devices and will position Olympus as a leader in this field, the company says. Already a leader in bronchoscopy systems, Olympus’ endoscope technologies will combine perfectly with VMT’s navigation products to develop solutions for improved diagnosis of peripheral lung cancer.
VMT is a provider of advanced medical devices specializing in interventional pulmonology. The company has developed and commercialized a next-generation electromagnetic thoracic navigation platform called the SPiN Thoracic Navigation System, which has been adopted by leading cancer centers throughout the U.S.
VMT also provides physicians with a full line of bronchoscopic brushes, needles, forceps and steerable catheters with tiny electromagnetic sensors embedded in the tips for precise navigation.
The combination of these proprietary Always-On Tip Tracked instruments and VMT’s exclusive patient respiratory gating technology enables physicians to accurately access lung nodules by accounting for nodule movement during patient breathing, a common challenge for lung specialists. The SPiN Thoracic Navigation System is the first and only technology that enables Pulmonologists or Thoracic Surgeons to accurately access lung nodules outside of an airway using SPiN Perc, a navigated transthoracic needle. With SPiN Perc, VMT combines endobronchial navigation with percutaneous navigation, allowing physicians to access all lung nodules in a single procedure, regardless of nodule size or location, eliminating the cost and risk of unnecessary procedures and empowers physicians to provide a same-day diagnosis for their patients.