Olympus has acquired Israeli medical device company Medi-Tate to enhance its business portfolio for in-office treatment of benign prostatic hyperplasia (BPH).
In February, Olympus exercised its option to acquire Medi-Tate. The deal will boost Olympus’ position in the urological devices segment, the company noted.
Medi-Tate focuses on the research and development, manufacturing and sale of devices for less-invasive BPH treatment.
Medi-Tate’s lead product, iTind is a temporarily implanted nitinol device that provides relief of lower urinary tract symptoms (LUTS) arising due to BPH.
The iTind treatment can be carried out by a urologist in an outpatient hospital setting, ambulatory surgery centre or doctor’s office, where the device is positioned in the prostate in a folded manner.
Olympus noted that the device gradually inflates and applies gentle pressure at three points to reshape the prostatic urethra and the neck of the bladder.
The device can be removed after five to seven days of placement, leaving a broader opening through which urine can flow and providing relief for symptoms of BPH.
The device has obtained the US Food and Drug Administration’s de Novo authorisation as well as CE mark in Europe.
Olympus gained the right to distribute this product in November 2018 through its initial investment in Medi-Tate.
Olympus chief operating officer Nacho Abia said: “The acquisition of Medi-Tate aligns with our corporate strategy of focusing on three priority therapeutic areas within our therapeutic solutions division – gastroenterological endotherapy devices, urological devices and respiratory endotherapy devices.
“Medi-Tate’s innovative products offer a truly minimally invasive treatment option for patients and flexibility in the delivery of care for healthcare professionals.”
Olympus offers devices for BPH treatment including resectoscopes and different types of electrodes.
The addition of iTind, which allows patients to preserve their sexual function, to the Olympus portfolio will aid the company in offering urologists various treatment options according to symptoms and patients’ requirements.
These offerings can vary from in-office day treatments to surgical procedures in hospitals.
The companies have not divulged the financial terms of the deal.