Business Wire

Olympus Exercises Option to Buy Israeli Medical Device Company Medi-Tate to Drive Global Urology Business Growth

Share

Olympus Corporation (”Olympus” – Director, Representative Executive Officer, President and CEO: Yasuo Takeuchi) announced today that it has exercised its call option in respect of the remainder of the shares in Medi-Tate Ltd. (“Medi-Tate”, an Israeli medical device company, CEO: Ido Kilemnik). 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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210225006349/en/

iTind

iTind

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 Israeli company at a later date. 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 has committed to focus and scale its Therapeutic Solutions Division (“TSD”) as part of its corporate strategy unveiled in late 2019. The company has identified and focused on gastroenterological endotherapy devices, urological devices and respiratory endotherapy devices as three priority therapeutic areas within TSD. 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.

Nacho Abia, Chief Operating Officer of Olympus Corporation, said, “the investment in Medi-Tate has expanded our patient care offerings in BPH, adding to Olympus’ market-leading plasma resection portfolio for transurethral resection of the prostate (TURP). Our partnership with Medi-Tate has supported one of Olympus’ key strategic initiatives to drive growth in our urology business and to expand our minimally invasive surgical solutions, enabling further improvement of clinical outcomes, reduction of overall costs and enhancement of patients’ quality of life and safety.”

Expanding options in the treatment of BPH

The incidence of BPH, one of the most common diseases in aging men and the most common cause of lower urinary tract symptoms (“LUTS”), is expected to increase as the general global population gets older. According to the American Urological Association, BPH is a condition that nearly 80% of men will face in their lifetime and that ratio is higher in older ages.Medication and surgical treatment are among the usual treatment options for BPH. Olympus develops, manufactures and markets BPH treatment devices for TURP procedures such as resectoscopes and a wide variety of electrodes. In recent years, non-ablative BPH treatment devices have also emerged, offering patients more options including day treatment in offices and clinics, as well as surgical therapies that require hospitalization.

Minimally invasive treatment enabled by iTind

iTind, a temporarily implanted nitinol device, supports the relief of LUTS due to BPH. The iTind treatment is performed by a urologist in an outpatient hospital, ambulatory surgery center or a clinic, where the device is placed in the prostatic urethra in a folded configuration. The device slowly expands and exerts gentle pressure at three precise points to reshape the prostatic urethra and bladder neck. After five to seven days, the device is completely removed, leaving a wider opening through which urine can flow, and to relieve the symptoms of BPH.

American Urological Association, Benign Prostatic Hyperplasia. Available at:

https://www.auanet.org/education/auauniversity/medical-student-education/medical-student-curriculum/bph

About Medi-Tate

Medi-Tate is an Israeli medical device company dedicated to improving men’s healthcare and quality of life via effective, non-surgical solutions for Benign Prostatic Hyperplasia (BPH). The flagship iTind treatment for BPH currently has the EU CE Mark and is approved for sale in the European Union, UK, Israel, Australia, Brazil, and the FDA cleared for use in the United States. For more information, visit www.medi-tate.com.

About Olympus’ Therapeutic Solutions business

In its Therapeutic Solutions business, Olympus uses innovative capabilities in medical technology, therapeutic intervention, and precision manufacturing to help healthcare professionals deliver diagnostic, therapeutic, and minimally invasive procedures to improve clinical outcomes, reduce overall costs, and enhance the quality of life for patients and their safety. Starting with its early contributions to the development of the polypectomy snare, Olympus’ Therapeutic Solutions portfolio has grown to include an array of surgical energy devices and a wide range of instruments to help prevent, detect, and treat disease. For more information, visit www.olympus-global.com.

Contact information

Europe, Middle East and Africa
Matthias Gengenbach
+49 15142369420
matthias.gengenbach@olympus-europa.com

Japan and APAC
Yuka Horimoto
+81-90-2490-1071
yuka.horimoto@olympus.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Coty Lands Industry First With Sustainability Certificate for Lancaster Sun Care Products21.4.2021 10:00:00 CEST | Press release

Coty Inc. (NYSE: COTY), one of the world’s leading beauty companies and the global leader in fragrances, today announced that Lancaster has become the first ever sun care brand awarded the prestigious C2C CertifiedMaterial Health Certificate at the Silver level from the Cradle to Cradle Products Innovation Institute. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210421005237/en/ (Photo: Business Wire) The award indicates that 100% of the ingredients in Lancaster Sun Sensitive collection –Lancaster’s first clean and vegan range, and its most environmentally friendly yet - meet the Institute’s strict criteria. In addition to recognizing the sustainable innovation behind the collection, the Certification serves as the foundation for further improving the sustainability and product safety of sun care products over time. Lancaster Sun Sensitive collection provides broad sun protection* targeting 100% of sun spectrum through a cl

The Climate Pledge Announces More Than 100 Signatories Committed to Achieving Net-Zero Carbon by 2040 or Sooner21.4.2021 09:01:00 CEST | Press release

Today, Amazon and Global Optimism announced that more than 100 companies have now signed The Climate Pledge. Among the 52 new signatories joining The Climate Pledge today are well-known brands including Alaska Airlines, Colgate-Palmolive, HEINEKEN, PepsiCo, Telefónica, and Visa. Pledge signatories in total generate more than $1.4 trillion in global annual sales and have more than 5 million employees across 25 industries in 16 countries—demonstrating the collective impact The Climate Pledge can have in addressing climate change. Signatories to The Climate Pledge agree to: Measure and report greenhouse gas emissions on a regular basis. Implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies. Neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets t

Shippeo Sustains Stellar Growth, Recognized in 2021 Gartner Magic Quadrant for Real-time Transportation Visibility Platforms21.4.2021 09:00:00 CEST | Press release

Shippeo, the European leader in real-time supply chain transportation visibility, has been recognized in the Gartner Magic Quadrant for Real-time Transportation Visibility Platforms 2021. The complimentary report is available at shippeo.com. Shippeo COO Lucien Besse is pleased to see the company’s market momentum being acknowledged. “We believe our recognition in the Magic Quadrant reflects upon our heavy investment in R&D and rapid deployment support over the past year as the pandemic stimulates unprecedented interest in RTTV solutions.” This interest has led Gartner to predict that, “by 2023, 50% of global product-centric enterprises will have invested in real-time transportation visibility platforms.” “We’re proud to have a market-leading visibility product and to have achieved strong growth with some of the highest customer recommendation rates,” adds Besse. The company has also developed the most accurate and reliable ETA in the industry while offering full GDPR compliance. The CO

Biometrics Experts and New Study Highlight How Behavioral Biometrics Supports Strict Regulation and Offers Better Data Privacy Protections21.4.2021 09:00:00 CEST | Press release

BehavioSec, the industry pioneer and technology leader for behavioral biometrics and continuous authentication, today announced new findings that organizations and consumers can feel more comfortable with wider use of behavioral biometrics to safeguard their online digital experiences and identities. Following a year of digital transformation on a societal level, the demand for better online user experience and a stronger level of digital identity protection has become essential. With a year when the world has seen a combination of personal data theft with new rulings and proposed legislation, like the EU Schrems II in July 2020 and the US National Biometrics Information Privacy Act in August [US Senators Merkley, D-OR and Sanders, I-VT], the need for expert guidance has never been higher. BehavioSec shares this research and a company milestone to highlight how behavioral biometrics can be adopted transparently with clear benefits, and in compliant fashion with comprehensive data prote

GE and Hitachi ABB Power Grids Sign Landmark Agreement to Reduce Environmental Impact in the Electrical Transmission Industry21.4.2021 09:00:00 CEST | Press release

GE Renewable Energy’s Grid Solutions business (NYSE: GE) and Hitachi ABB Power Grids Ltd. announced today a non-exclusive, cross-licensing agreement related to the use of an alternative gas to sulfur hexafluoride (SF6) used in high voltage equipment. This fluoronitrile-based gas mixture has a significantly reduced impact on the environment compared to SF6. Under this landmark agreement announced just before Earth Day 2021 between two global leaders in power technologies – both companies will share complementary intellectual property related to their respective SF6-free solutions. This will help accelerate the use of fluoronitrile-based eco-efficient insulation and switching gas in high-voltage equipment as an alternative to SF6. A recent EU Commission report concluded that fluorinitrile-based gas mixtures may be the only insulating and switching gas alternative to SF6 when space is a constraint. Today’s historic agreement paves the way for a standard SF6-free solution for high-voltage

SES Joins United Nations Global Compact Initiative, Accelerates Purpose-led ESG Programme in 202121.4.2021 08:50:00 CEST | Press release

SES today announced it has joined the United Nations Global Compact, the world’s largest corporate sustainability initiative, underscoring the company's purpose-led Environmental, Social and Governance (ESG) programme. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210420006272/en/ SES Joins United Nations Global Compact Initiative, Accelerates Purpose-led ESG Programme in 2021 (Photo: Business Wire) By committing to the UN Global Compact framework, SES is now firmly aligning its long-standing societal and environmental impact efforts to the company’s purpose – doing the extraordinary in space to deliver amazing experiences everywhere on earth – and delivering on its ambitions to provide cloud-enabled, satellite-based intelligent connectivity and to make a difference worldwide. The UN Global Compact is a corporate initiative that encourages both business and non-business organisations to establish and define strategies, poli

Australia Flexes Muscle in Talent War with Newest Immigration Program21.4.2021 07:30:00 CEST | Press release

The global battle for talent supercharged by the Covid-19 pandemic shows no signs of abating, with Australia sending out strong signals that it intends to succeed with its latest immigration offering under the Australia Global Business and Talent Attraction Taskforce. Under the purview of the taskforce, there is a fast-tracked visa program with a streamlined path to permanent residence for talented individuals. The Global Talent visa has been designed to grow Australia’s innovation and tech economies in a bid to boost economic recovery, enhance resilience, and drive competitiveness by attracting dynamic, highly skilled individuals to relocate to its safe shores. With no age limit or investment prerequisite, the only requirements for applicants are to be internationally recognized, prominent in their field, and able to provide evidence of outstanding achievements. The 10 future-focused target sectors are: Agri-food and AgTech, Energy, Health Industries, Defence, Advanced Manufacturing a

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom