Olympus to Purchase Israeli Firm Medi-Tate to Grow Urology Biz

Olympus Corporation has exercised its call option in respect of the remainder of the shares in Medi-Tate Ltd. The potential acquisition would further strengthen Olympus’ Therapeutic Solutions Division.
 
Olympus made its initial investment in Medi-Tate in November 2018, under an agreement that included the rights to distribute Medi-Tate products and gave Olympus an option to acquire the Israeli company at a later date. Medi-Tate engages in research and development, production, and sale of devices for minimally invasive treatment of benign prostatic hyperplasia (BPH). The company’s flagship product iTind is CE marked and approved by the U.S. FDA.
 
Based on over two years’ experience selling iTind and assessment of the product’s clinical value, Olympus exercised its call option to explore its potential in BPH treatment and to expand the firm’s minimally invasive surgical solutions.
 
Nacho Abia, Olympus COO, told the press, “the investment in Medi-Tate has expanded our patient care offerings in BPH, adding to Olympus’ market-leading plasma resection portfolio for transurethral resection of the prostate (TURP). Our partnership with Medi-Tate has supported one of Olympus’ key strategic initiatives to drive growth in our urology business and to expand our minimally invasive surgical solutions, enabling further improvement of clinical outcomes, reduction of overall costs and enhancement of patients’ quality of life and safety.”
 
BPH is one of the most common diseases in aging men and the most common cause of lower urinary tract symptoms (LUTS). According to the American Urological Association, nearly 80 percent of men will face the condition that in their lifetime. Olympus develops, manufactures, and markets BPH treatment devices for TURP procedures such as resectoscopes and a wide variety of electrodes. In recent years, non-ablative BPH treatment devices have also emerged, offering patients more options including day treatment in offices and clinics, as well as surgical therapies that require hospitalization.
 
iTind, a temporarily implanted nitinol device, supports LUTS relief due to BPH. The urologist performs the iTind treatment in an outpatient hospital, ambulatory surgery center, or a clinic, placing the device in the prostatic urethra in a folded configuration. The device slowly expands and exerts gentle pressure at three precise points to reshape the prostatic urethra and bladder neck. After five to seven days, the device is removed, leaving a wider opening for urine to flow, relieving BPH symptoms.