January 4, 2021 – Olympus Corporation (Center Valley, PA) has finalized the acquisition of Veran Medical Technologies, Inc. (VMT), a provider of advanced medical devices specializing in interventional pulmonology.
A definitive agreement for the acquisition was previously signed on December 4, 2020.
With this acquisition by Olympus subsidiary Olympus Corporation of the Americas (OCA), Olympus gains VMT’s global sales network, marketing, manufacturing, R&D, and other functions to expand the Olympus respiratory product portfolio.
VMT’s SPiN Thoracic Navigation System and related devices are specifically designed to help physicians navigate to, localize, and sample peripheral pulmonary lesions.
Together with the existing Olympus respiratory portfolio that includes radial endobronchial ultrasound (EBUS) and thin bronchoscopes, VMT’s navigational system and related devices provide a powerful combination of imaging, access and precision for pulmonologists seeking to diagnose and determine the stage of a patient’s lung cancer, the company says.
The VMT acquisition is centered on respiratory devices and will position Olympus as a leader in this field and provide immediate incremental revenue and an experienced sales team within the U.S. market, Olympus says.