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| Olympus logo |
Olympus Corp., a global medical technology company committed to making people's lives healthier, safer and more fulfilling, has agreed to acquire Taewoong Medical, a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents to strengthen its product portfolio capabilities, the firm said Monday.
This will in turn contribute to improving patient outcomes through comprehensive solutions.
Taewoong will receive about $370 million (480 billion won) in cash. The company expects to complete the transaction on June 30, subject to customary closing conditions.
Incidences of biliary cancers, where metallic stents are used frequently as part of the treatment, have been increasing in recent years due to population aging.
Metallic stents are often used to treat jaundice, one of the symptoms of an obstructed or narrowed biliary tract caused by biliary cancer. The stent allows for minimally invasive treatment, supporting faster patient recovery.
Different types of stents are needed depending on the condition of the lesion and the patient's anatomy.
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| Metalic stent manufactured by Taewoong Medical / Courtesy of Taewoong Medical |
GI stents are used to help clear occlusions or strictures caused by cancer or other diseases.
Moreover, Taewoong's metallic stents combine strong radial force with high flexibility, which are both crucial requirements for such devices.
This allows the stent to conform to the shape of anatomy such as a biliary tract or esophagus. Even if curved, it is less likely for the stent to buckle, which reduces the risk of restenosis.
Taewoong has a wide range of high-quality stents realized through its unique design and technology capabilities, enabling healthcare professionals to provide minimally invasive treatments with the most suitable equipment.
The addition of Taewoong's medical devices to its product portfolio will enable Olympus to become a comprehensive solutions provider in the GI market by contributing to improved patient outcomes and elevating the standard of care.
"Olympus' Endotherapy Division is committed to providing a full portfolio of clinically differentiated technologies aimed at treating patients who suffer from GI disease," said Gabriela Kaynor, global division head of Olympus' therapeutic solutions division. "With the acquisition of Taewoong Medical, this further demonstrates our commitment to this critical segment of our business. I am proud to welcome Taewoong Medical's employees, and their commitment to the field of GI endoscopy, to Olympus' therapeutic solutions division."
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