The acquisition will enable Olympus to expand its business line in providing in-office treatment for benign prostatic hyperplasia
iTind is the newest addition to the portfolio of Olympus. (Credit: Business Wire)
Japanese company Olympus has acquired Israeli medical device company Medi-Tate to boost the growth of the global urology business.
The acquisition is said to follow Olympus’ decision to exercise the call option in February this year.
Medi-Tate is involved in the research and development, manufacturing and commercialisation of devices for the minimally invasive treatment of benign prostatic hyperplasia (BPH).
The acquisition is expected to allow Olympus to expand its business line in offering in-office treatment for BPH treatment.
Medi-Tate has secured de novo authorisation from the US Food and Drug Administration (FDA) and CE mark approval for its iTind non-ablative BPH treatment device.
iTind is a temporarily implanted nitinol device that allows to provide relief from lower urinary tract symptoms (LUTS) due to BPH.
According to the company, an urologist can perform the iTind treatment in an outpatient hospital, ambulatory surgery center or in a physician’s office.
Olympus chief operating officer Nacho Abia said: “the acquisition of Medi-Tate aligns with our corporate strategy of focusing on three priority therapeutic areas within our Therapeutic Solutions Division — gastroenterological endotherapy devices, urological devices and respiratory endotherapy devices.
“Medi-Tate’s innovative products offer a truly minimally invasive treatment option for patients and flexibility in the delivery of care for healthcare professionals.”
Olympus secured the right of distribution in November 2018, following an initial investment in Medi-Tate.
The company offers devices such as resectoscopes and a wide variety of electrodes for BPH treatment.
With the addition of non-ablative BPH treatment device iTind, Olympus is expected to offer urologists more treatment options, ranging from in-offices day treatment to surgical therapies in hospitals.
In January this year, Olympus agreed to cquire Netherlands-based multispectral imaging solutions provider Quest Photonic Devices.