|Business||Research and development, production, and sales, of innovative devices for treatment of lower urinary tract symptoms (LUTS)|
|Headquarters||Or Akiva, Israel|
Tokyo, 11/02/2018 | Press Release | Company Olympus invests in Israeli medical device company Medi-Tate
Olympus Corporation (Representative Director and President: Hiroyuki Sasa) announced today that it has entered into a final agreement for an investment in the Israeli company, Medi-Tate. The agreement includes the right to distribute the company’s products and a call option that, if exercised, would allow Olympus to acquire 100% of the company.
Medi-Tate is a medical device manufacturer engaged in the research and development, production, and sale of devices for the treatment of Benign Prostatic Hyperplasia (BPH). The company’s product “iTind” is European CE marked. The intention is to proceed with a progressive rollout of the product by obtaining regulatory approvals and other relevant licenses in select countries.
Olympus intends to leverage Medi-Tate’s technology to further expand its range of Minimally Invasive Surgical Treatment (MIST) devices for BPH and to strengthen its urology business.
The Medi-Tate investment will allow Olympus to strengthen its support in Urology through expanded options in enhanced patient care, with complementary offerings to its already robust BPH product portfolio. The existing resection and vaporization portfolio will continue to be fully supported by Olympus.
A key policy in the Olympus 2016 corporate strategic plan (16CSP) is to “strengthen our position in the BPH and bladder tumor treatment device market.” The agreement with Medi-Tate is in alignment with this plan.
BPH is a condition that 8 out of 10 men will face in their lifetimes.i Medication and surgical treatment are among the usual treatment options for BPH, while in-office procedures are of increasing interest as part of an overall emphasis in healthcare on value-based care.
Olympus has an innovative legacy of developing and marketing a market-leading resection portfolio for the Transurethral Resection of the Prostate (TURP) procedure as an option for BPH treatment. New options made possible through the Medi-Tate agreement will mean continued leadership in this important specialty area for men’s health.