Japan-based manufacturer of optics and reprography products Olympus has signed a definitive agreement to acquire Arc Medical Design from European pharmaceutical company Norgine.
Arc Medical Design’s flagship product is ENDOCUFF VISION. It is designed to maintain and increase visibility during colonoscopy.
The device can manipulate large folds, anchor the scope tip during loop reduction and stabilise during complex procedures such as a polypectomy.
According to the agreement, Olympus will acquire Arc Medical Design and obtain full rights to its portfolio of medical products.
It includes converting its existing exclusive distribution rights of ENDOCUFF VISION to a full acquisition of the ENDOCUFF suite of products such as ENDOCUFF, ENDOCUFF GLIDE and ENTEROCUFF and WIDE-EYE POLYTRAP, among several products that are currently in pipeline.
Olympus Global GI EndoTherapy Business Unit vice-president and general manager Mike Callaghan said: “ENDOCUFF VISION has been a pivotal tool in our EndoTherapy portfolio, and we are delighted to expand our product portfolio to include the entire ENDOCUFF family.
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“We are excited about the acquisition of Arc Medical Design as it expands our expertise in innovative medical technology, strengthens our global leadership in endoscopy and reinforces the commitment to our purpose of making people’s lives healthier, safer and more fulfilling.”
The acquisition is part of Olympus’ strategy to expand its offering in gastrointestinal therapeutic devices and advanced colonoscopy tools development. The company invests in early detection and treatment of colorectal cancer (CRC) through mergers and acquisitions opportunities (M&A) and through research and development (R&D).
Olympus will assume the responsibility of the global design, manufacturing, distribution and business strategy for the product portfolio of the acquired business with immediate effect, it said.
Last year, Olympus Medical Systems, a unit of Olympus, launched two rhino-laryngoscopes with video capability to enable improved visualisation during ENT procedures.
The financial terms of the agreement were not disclosed.