Acquisitions · Medical devices
Olympus buys lung navigation device maker Veran for up to $340 million
- Buyer
- Olympus (via Olympus Corporation of the Americas) (Tokyo)
- Target
- Veran Medical Technologies, St. Louis, Missouri
- Value
- Up to $340M
- Status
- Completed on December 30, 2020.
- Date
- 2020-12-04
Olympus agreed to buy Veran Medical Technologies for up to $340 million, including payments that depend on future results. Veran's SPiN Thoracic Navigation System guides doctors to small lesions deep in the lungs so they can take biopsies to diagnose lung cancer.
Why it matters
Olympus was reshaping itself into a pure medical technology company after selling its camera business, and respiratory products were one of the areas it chose to grow.
About Veran
Veran is a private company based in St. Louis. Its SPiN system tracks instruments in the lungs using electromagnetic sensors built into brushes, needles, forceps and catheters, and adjusts for how a nodule moves as the patient breathes. Its SPiN Perc needle can also reach a lesion through the chest wall.
Olympus's plan
Olympus's November 2019 strategy moved the headquarters of its therapeutic devices division to the Americas and named three priority areas: digestive tract treatments, urology and respiratory care. It planned to pair its bronchoscopes with Veran's navigation to diagnose lung cancer in the outer parts of the lungs.
The timing
Olympus expected more need for lung biopsies as low-dose CT screening for lung cancer spreads. The deal also brought it Veran's experienced US sales team and immediate extra revenue.
Sources
Kakehashi M&A News home
