Olympus has agreed to acquire US-based medical device company Veran Medical Technologies (VMT) in a deal valued up around $340m.

Based in St. Louis of Missouri, VMT offers advanced medical devices with specialisation in interventional pulmonology.

Olympus is implementing the acquisition via its subsidiary Olympus Corporation of the Americas (OCA).

Olympus stated that it made OCA as its therapeutic division headquarters and identified gastroenterological endotherapy devices, urological devices, and respiratory devices as three core medical fields.

VMT to strengthen Olympus’ position in respiratory devices space

The company has acquired VMT with a main focus on respiratory devices and expand its position in the segment.

It’s endoscope technologies are said to complement VMT’s navigation products, thereby helping to develop solutions for improved diagnosis of peripheral lung cancer.

VMT has developed and commercialised a next-generation electromagnetic thoracic navigation platform known as SPiN thoracic navigation system.

The system is claimed to be the first and only technology that allows pulmonologists or thoracic surgeons to precisely access lung nodules outside of an airway using SPiN Perc navigated transthoracic needle.

VMT  also offers a range of bronchoscopic brushes, needles, forceps and steerable catheters with tiny electromagnetic sensors embedded in the tips for precise navigation.

The combination of Always-On Tip Tracked instruments and VMT’s exclusive patient respiratory gating technology helps physicians to precisely access lung nodules by accounting for nodule movement during patient breathing.

OCA COO and CEO “We are very excited about acquiring VMT because its portfolio of devices will complement our product portfolio and further strengthen our position in respiratory medical devices.

“The most significant part of this deal is that we will secure immediate access to VMT’s unique Electromagnetic Navigation system with proprietary devices to build a stronger future respiratory product portfolio.”

In November, Olympus acquired French orthopaedics company FH ORTHO to expand its presence in the orthopaedic minimally invasive surgery (MIS) field.