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The 10 biggest merger and acquisition stories of 2020

by Gus Iversen, Editor in Chief | December 30, 2020
Business Affairs

Olympus to acquire Veran Medical Technologies for $340 million

Olympus Corporation announced in December that it would acquire Veran Medical Technologies, a developer of interventional pulmonology solutions, for $340 million.

The acquisition will be carried out through Olympus’ subsidiary, Olympus Corporation of the Americas (OCA) and is expected to position Olympus as a leader in the field of respiratory 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,” said Nacho Abia, global chief operating officer and CEO of OCA, in a statement.

VMT's SPiN Thoracic Navigation System offers 3D maps based on inspiration and expiration CT scan protocol and the ability to switch from navigated bronchoscopy to navigated transthoracic needle aspiration in the same procedure. Other features include respiratory gating technology for tracking moving nodules and electromagnetic instrumentation for unprecedented access, visualization and control.

Increased awareness and a greater number of low-dose CT screenings have increased the need to definitively diagnose lesions in the peripheral regions of the lungs through tissue biopsies. Through the deal, Olympus plans to use its endoscope technologies alongside VMT’s navigation systems to form solutions that can help providers more accurately make such diagnoses.

The agreement also includes immediate incremental revenue and an experienced sales team within the U.S. market.

"Olympus has a clear strategy to become a global medtech leader, and we're excited to contribute our unique capabilities and become part of this journey,” said Jason Pesterfield, CEO of VMT.

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