Dec 04, 2020
December 4, 2020 – Tokyo/Center Valley, PA
Olympus Corporation (Director, Representative Executive Officer, President and CEO: Yasuo Takeuchi) today announced that it has entered into an agreement to acquire Veran Medical Technologies, Inc. (“VMT”) (CEO: Jason Pesterfield), a leading provider of advanced medical devices specializing in interventional pulmonology, for up to USD 340 million. The acquisition will be implemented through Olympus subsidiary Olympus Corporation of the Americas (“OCA”), and will be the latest in a series of strategic acquisitions designed to strengthen Olympus’ position as a leading global medical device company.
Veran is a privately held medical device company headquartered in St. Louis, MO. The company’s mission is to empower physicians to diagnose cancer earlier and to enable precision therapy to save lives. In the United States, lung cancer kills more people each year than breast, prostate, pancreatic and colon cancers combined.
Veran has developed and commercialized an FDA cleared, next generation electromagnetic thoracic navigation platform called the SPiN Thoracic Navigation System®. Veran’s breakthrough technology has been adopted by leading cancer centers throughout the United States. Veran provides physicians with a full line of bronchoscopic brushes, needles, forceps and steerable catheters with tiny electromagnetic sensors embedded in the tips for precise navigation. The combination of these proprietary Always-On Tip Tracked® instruments and Veran’s exclusive patient respiratory gating technology enables physicians to accurately access lung nodules by accounting for nodule movement during patient breathing, a common challenge for lung specialists.
Another challenge lung specialists face is that approximately 40% of lung nodules lie outside of an airway, making them very difficult to reach endobronchially, and traditionally requiring an additional procedure. Veran’s SPiN Thoracic Navigation System® is the first and only FDA cleared technology that enables Pulmonologists or Thoracic Surgeons to safely and accurately access lung nodules outside of an airway using SPiN Perc®, a navigated transthoracic needle. With SPiN Perc®, Veran combines endobronchial navigation with percutaneous navigation, allowing physicians to access all lung nodules in a single procedure, regardless of nodule size or location. This eliminates the cost and risk of unnecessary procedures and empowers physicians to provide a same day diagnosis for their patients. The early diagnosis and treatment of lung cancer has been proven to save lives.