February 26, 2021 – Olympus Corporation announced it has exercised its call option in respect of the remainder of the shares in Medi-Tate Ltd. (Israel).
The company says the potential acquisition would further strengthen Olympus’ Therapeutic Solutions Division, a key pillar in its future growth strategy, and solidify its position as a leader in the field of urological devices.
Medi-Tate is a medical device manufacturer engaged in the research and development, production, and sale of devices for the minimally invasive treatment of benign prostatic hyperplasia (BPH). The company’s flagship product iTind has received a European CE mark and is FDA cleared for use in the U.S.
Olympus made its initial investment in Medi-Tate in November 2018, under an agreement that included the rights to distribute Medi-Tate products and gave Olympus an option to acquire 100% of the company at a later date.
Based on over two years’ experience of selling iTind and assessment of the clinical value of the product, Olympus has decided to exercise its call option in order to explore its potential in the treatment of BPH and to expand Olympus’ minimally invasive surgical solutions.