The acquisition indicates Olympus commitment to expand its offering in gastrointestinal therapeutic devices
Japan-based Olympus has signed an agreement to acquire Norgine subsidiary Arc Medical Design for an undisclosed sum.
The acquisition indicates Olympus commitment to expand its offering in gastrointestinal therapeutic devices, as well as develop advanced colonoscopy tools via mergers and acquisitions (M&A) opportunities and research and development (R&D) capabilities to enhance early detection and treatment of colorectal cancer (CRC).
As per terms of the deal, Olympus will acquire Arc Medical Design and secure full rights to its suite of advanced medical products.
The deal allows Olympus to convert its current exclusive distribution rights of Endocuff Vision to a full acquisition of the Endocuff family of products.
Arc Medical Design chairman Peter Martin said: “Arc Medical is proud of the significant contribution that it has been able to make to patients at risk of developing bowel cancer, and to those healthcare professionals screening them.”
The Endocuff product portfolio is comprised of Endocuff, Endocuff Guide, Enterocuff, as well as Wide-Eye Polytrap and various other products currently in development.
The acquisition of Arc Medical Design will also enable Olympus to immediately assume its worldwide responsibility for design, manufacturing, distribution and business strategy for the product portfolio.
Endocuff Vision will help maintain and enhance visibility during colonoscopy
Endocuff Vision, a device adhered to the distal end of a colonoscope, has been developed to maintain and enhance visibility during colonoscopy.
The device is provided with an advanced design to manipulate large folds, fix the scope tip during loop reduction, and stabilise during complex procedures such as a polypectomy.
Olympus global GI endotherapy business unit general manager and vice president Mike Callaghan said: “It is a great pleasure to announce our acquisition of Arc Medical Design.
“ENDOCUFF VISION has been a pivotal tool in our EndoTherapy portfolio, and we are delighted to expand our product portfolio to include the entire ENDOCUFF family.”
In February this year, Olympus secured approval from the US Food and Drug Administration (FDA) for its TJF-Q190V duodenoscope.