Olympus purchases medical device company

Olympus Corp.’s subsidiary Olympus Corporation of the Americas recently completed the purchase of Veran Medical Technologies (VMT), an advanced medical devices company.

VMT specializes in interventional pulmonology. The purchase will expand Olympus’ respiratory product portfolio.

“With the deal now closed, as one company we are able to combine Olympus’ expertise and clinical history in minimally invasive technology with the innovation in navigation systems of Veran Medical Technology to improve workflow and patient care in lung cancer,” Lynn Ray, Olympus, vice president and general manager of the Global Respiratory Business Unit, said. “Olympus is committed to providing the medical community with the best tools possible to use in their fight against cancer. With the advent of EBUS-guided transbronchial needle aspiration in 2004, Olympus brought patients the benefit of more accurate diagnosis and staging, to improve patient outcomes and care.”

Globally, lung cancer is the top cause of cancer-related deaths. VMT’s SPiN Thoracic Navigation System and related devices are designed to help doctors detect and sample peripheral pulmonary lesions.

Its navigational system and related devices combine imaging, access, and precision for pulmonologists seeking to diagnose and determine the stage of a patient’s lung cancer.

The two companies signed a definitive agreement on Dec. 4.