07.22.21
Rank: #19 (Last year: #19)
$5.66 Billion ($6.62 Billion)
Prior Fiscal: $5.95 Billion
Percentage Change: -4.7%
No. of Employees: 31,653 (total)
Global Headquarters: Tokyo, Japan
KEY EXECUTIVES:
Yasuo Takeuchi, Director, Representative Executive Officer, President, CEO
Nacho Abia, Executive Officer and COO
Akihiro Taguchi, Executive Officer and Chief Technology Officer
Chikashi Takeda, Executive Officer and CFO
Stefan Kaufmann, Director, Executive Officer, Chief Administrative Officer
Tetsuo Kobayashi, Chief Strategy Officer
Toshihiko Okubo, Corporate Strategy and Planning Officer
Akira Hasegawa, Research and Development Head
Tomohisa Sakurai, Operation Group Management Head, Olympus Medical Technologies Asia Head, Olympus Medical Systems President
Masahito Goto, Olympus Medical Technologies Asia Technology Function Head
Frank Drewalowski, Endoscopic Solutions Division Head
Hironobu Kawano, Endoscopic Solutions Division Head
Here’s a random, totally offbeat fact about July 14: It’s National Mac and Cheese Day.
Believe it or not, France shares its most hallowed day (marking the start of the French Revolution) with the classic American dish. Although its true origin is unknown, the delectable marriage of starch and cheese was purportedly President Thomas Jefferson’s favorite meal (he had his own pasta machine and frequently ordered pasta from Europe, according to his estate).
America’s appetite for mac and cheese has grown considerably since Jefferson’s heyday, engendering countless recipes (both retail and “homemade”), thousands of culinary competitions, and dozens of annual festivals (upcoming events are slated in Buffalo, N.Y.; Kansas City; Richmond, Va.; and Winston-Salem, N.C.).
Despite its popularity, however, mac and cheese is not the sole devotee of July 14. The date also is feted by U.S. law enforcement (outlaw Billy the Kid’s death day), elasmobranch fish enthusiasts (Shark Awareness Day), and gastroenterologists (Endoscope Day).
The latter observance was established by the Japanese Foundation for Research and Promotion of Endoscopy to foster the “development and spread of endoscopic medicine.” Naturally, Olympus Corporation—creator of the world’s first practical “gastrocamera” (the endoscope’s forerunner)—has faithfully championed this mission, conducting an annual awareness survey on endoscopic examinations and hosting educational programs for elementary and junior high school students.
The “Endoscope Kids Class” Olympus has held over the last two years aims to help build awareness of the firm’s signature invention, promote scientific thinking, and generate interest in medical manufacturing. Held (quite curiously) months apart from its namesake day (July 14), the class gave elementary and junior high school students the chance to operate an endoscope, locate polyps grasp “lesions” (sponges) in a simulated model.
“At the last of the class, many children cheerfully raised their hands for the staff’s question, ‘Thank you for joining this Endoscope’s Kids Class,’” a brief posting on the company’s website reads. “‘Who thinks [they may] want to become a doctor in the future?’ Olympus will continue to provide children opportunities to think about the importance of health and also to discover future dreams in order to realize our corporate philosophy, ‘Making people’s lives healthier, safer and more fulfilling.’”
That philosophy was rather difficult to fully execute in fiscal 2021 as COVID-19 shut down most of Western civilization and prompted hospitals worldwide to postpone or cancel elective procedures. The subsequent decline in surgeries reduced Olympus’ North American gastrointestinal and surgical endoscope sales by 10 percent last April, and its fiscal first-quarter revenue (ended June 30, 2020) by 28.4 percent.
In addition to impacting sales, the pandemic-induced lockdowns and social distancing measures forced Olympus to modify its manufacturing focus and physician services. The company moved 85 percent of its in-person training online, and offered up free use (for three months) of its cloud-based telecollaboration platform.
MedPresence integrates with any clinical video source to enable instant access to an OR or procedure room from anywhere in the world, according to the company. The platform enables clinicians to interact, communicate, and collaborate on treatment regimens in real-time, thus facilitating improved clinical efficiency and reducing personal contact (and personal protective equipment use).
Unlike standard webcam or PC-based video-sharing technology, MedPresence uses information from various clinical data sources, including the endoscopic medical tower employed during a procedure. Harnessing the real-time endoscopic view from inside a patient, physicians in other locations can access the point-of-care clinician’s perspective.
“Telecollaboration is a recognized tool for reducing exposure to pathogens and can be effective in protecting healthcare staff as well as hospital patients,” Ross “Rusty” Segan, M.D., Olympus Corporation’s global chief medical officer, told the press last April. “Olympus wants to share [the] MedPresence system during this critical time in an effort to reduce risk, conserve resources, and ensure that new approaches to this disease can be made available without barrier. Together, and with the best minds and technology on the task, we will defeat this coronavirus and its tragic effects.”
While victory is still not in sight, the world has made significant strides against SARS-CoV-2, developing rapid diagnostic tests to accurately measure infections and vaccines that protect against more contagious variants. Long-shuttered businesses are reopening, unemployment is falling, and the U.S. economy is quickly recovering.
Olympus is on the mend too, though the pandemic’s financial scars are forever etched in the company’s FY21 results. Total sales slipped 3.3 percent to 730.5 billion yen, operating profit shrunk 11.1 percent to 81.98 billion yen, and basic earnings per share plummeted nearly 75 percent to 10.05 yen, according to financial reports.
A second-half market recovery that triggered solid growth in both the Endoscopic and Therapeutic Solutions divisions limited the company’s full-year sales loss. Third-quarter Endoscopic Solutions Division (ESD) proceeds rose 9.3 percent to 112.4 billion yen, and Q4 revenue surged higher, swelling 11.1 percent to 124.9 billion yen. The Therapeutics Solutions Division (TSD) posted slightly lower growth: third-quarter sales increased 4.5 percent to 55.2 billion yen, and Q4 revenue jumped 8.4 percent to 59.9 billion yen.
The second-half surge in ESD and TSD revenue, however, was an inadequate match for the pecuniary damage inflicted by postponed or cancelled elective surgeries and in-person sales promotion restrictions (e.g., hospital visits, business negotiations). Consequently, FY21 revenue fell in both divisions despite a flurry of new product releases.
Therapeutic Solutions sales contracted 4.6 percent in the 12-month period ended March 30, 2021, to 206 billion yen, and operating profit tumbled 5.9 percent to 24.6 billion yen. A fourth-quarter voluntary recall also hampered revenue in this division, adding about 2 billion to the total shortfall. Olympus recalled roughly 26,000 disposable EndoTherapy devices in January (2021) over a packaging defect that potentially could compromise their sterility. The decision affected 113 models of balloon catheters, forceps, knives, needles, and stents distributed in the United States since early 2019. The company attributed the recall to a defective seal but said the problem did not cause any injuries.
A recall and voluntary duodenoscope replacement initiative also helped dampen FY21 Endoscopy sales. The division incurred a 10.4 billion charge for swapping out fixed cap tipped duodenoscopes with devices containing removable cap tips. Olympus also covered the undisclosed costs of its voluntary recall of 4,150 endoscopes late last summer (2020). Citing potential malfunction or infection risks, the company withdrew from the market roughly 3,900 BF-Q180 bronchoscopes sold in the United States and Europe between April 2005 and March 2019. The scopes were associated with a “higher rate of patient infections” than comparable products, but did not cause any serious health issues, according to Olympus.
The company also recalled about 250 CHF-CB30S choledochofiberscopes, used for biliary tract exams. Sold in the United States, Europe, and Japan between April 1998 and March 2020, the revoked products were flagged for unexpected parts detachment; such a scenario occurred in one case that required surgery to retrieve a tiny rubber part from a patient’s biliary tract, according to The Japan Times.
Between the recalls and COVID-19, the Endoscopic division stood little chance of turning a profit in fiscal 2021. Sales waned 1.5 percent to 419.5 billion yen and operating profit shrunk 4.3 percent to 104.7 billion yen.
Despite the various financial hurdles within its Medical business, Olympus edged closer to metamorphasizing into a global medtech company, a central goal of the firm’s 2019 reorganization plan.
Olympus scored two regulatory consents in the fiscal year and launched more than a dozen new products. U.S. Food and Drug Administration (FDA) decisions bookended the year, with the first—in April 2020—granting de novo classification to the company’s iTind non-surgical device for treating benign postatic hyperplasia. iTind is a flexible, three-strut nitinol device that expands over five days to help reshape the prostate and create channels for urine flow. Originally designed by Israeli medtech manufacturer Medi-Tate, the product won CE Mark approval in 2012. Olympus distributes Medi-Tate’s products in the United States through a strategic investment.
Nearly a year later (mid-March 2021), Olympus received FDA 510(k) clearance for its Narrow Band Imaging (NBI) to asses the neoplastic potential of colorectal polyps. NBI is an optical imaging technology that improves vessel visibility and mucosa surface patterns.
“We are excited about these newly cleared indications for using NBI to support colorectal cancer screening,” Kevin Mancini, vice president for Endoscopy at Olympus America Inc., said upon FDA approval. “NBI is an important tool, available as standard on all Olympus colonoscopes, which can be used by physicians to assist in decision-making with the goal of improving patient care.”
Olympus also helped improve patient care with its plethora of FY21 product releases. The new market entrants included:
In between its product debuts, Olympus purchased four companies in fiscal 2021: Arc Medical Design Limited, FH ORTHO, Veran Medical Technologies, and Quest Photonic Devices.
With the August 2020 deal for Arc Medical—developer of devices for improving adenoma detection during colonoscopies—Olympus added the Endocuff Vision device and other products, including Endocuff Glide and Enterocuff, to its already diverse portfolio.
The FH ORTHO deal (November 2020), meanwhile, enables Olympus to build on its lineup of minimally invasive solutions for ligament repair, foot and ankle conditions, and trauma surgery. Olympus is already active in orthopedics in Japan, where its joint venture Olympus Terumo Biomaterials distributes products such as bone substitutes and high tibial osteotomy plates and screws. Beyond this, Olympus also has developed the first ultrasound device indicated for arthroscopic surgery, supporting more accurate and safer bone cutting.
The FH ORTHO acquisition will enable Olympus to expand orthopedic product distribution through FH ORTHO’s existing channels, as well as certain FH ORTHO key products in Japan.
The $340 million deal for Veran Medical, on the other hand, enhances Olympus’ respiratory device portfolio, while the $60.7 million purchase of Quest Photonic Devices accomplishes the same task within the surgical endoscopy market. Quest develops advanced fluorescence imaging systems (FIS), which enable more surgical endoscopy capabilities compared to existing technologies. FIS refers to light imaging technologies that use fluorescent dyes to make specific anatomical structures visible. The dyes, combined with specific light wavelengths, allow clinicians to visualize tissues or lesions that are nearly invisible under normal white light.
$5.66 Billion ($6.62 Billion)
Prior Fiscal: $5.95 Billion
Percentage Change: -4.7%
No. of Employees: 31,653 (total)
Global Headquarters: Tokyo, Japan
KEY EXECUTIVES:
Yasuo Takeuchi, Director, Representative Executive Officer, President, CEO
Nacho Abia, Executive Officer and COO
Akihiro Taguchi, Executive Officer and Chief Technology Officer
Chikashi Takeda, Executive Officer and CFO
Stefan Kaufmann, Director, Executive Officer, Chief Administrative Officer
Tetsuo Kobayashi, Chief Strategy Officer
Toshihiko Okubo, Corporate Strategy and Planning Officer
Akira Hasegawa, Research and Development Head
Tomohisa Sakurai, Operation Group Management Head, Olympus Medical Technologies Asia Head, Olympus Medical Systems President
Masahito Goto, Olympus Medical Technologies Asia Technology Function Head
Frank Drewalowski, Endoscopic Solutions Division Head
Hironobu Kawano, Endoscopic Solutions Division Head
Here’s a random, totally offbeat fact about July 14: It’s National Mac and Cheese Day.
Believe it or not, France shares its most hallowed day (marking the start of the French Revolution) with the classic American dish. Although its true origin is unknown, the delectable marriage of starch and cheese was purportedly President Thomas Jefferson’s favorite meal (he had his own pasta machine and frequently ordered pasta from Europe, according to his estate).
America’s appetite for mac and cheese has grown considerably since Jefferson’s heyday, engendering countless recipes (both retail and “homemade”), thousands of culinary competitions, and dozens of annual festivals (upcoming events are slated in Buffalo, N.Y.; Kansas City; Richmond, Va.; and Winston-Salem, N.C.).
Despite its popularity, however, mac and cheese is not the sole devotee of July 14. The date also is feted by U.S. law enforcement (outlaw Billy the Kid’s death day), elasmobranch fish enthusiasts (Shark Awareness Day), and gastroenterologists (Endoscope Day).
The latter observance was established by the Japanese Foundation for Research and Promotion of Endoscopy to foster the “development and spread of endoscopic medicine.” Naturally, Olympus Corporation—creator of the world’s first practical “gastrocamera” (the endoscope’s forerunner)—has faithfully championed this mission, conducting an annual awareness survey on endoscopic examinations and hosting educational programs for elementary and junior high school students.
The “Endoscope Kids Class” Olympus has held over the last two years aims to help build awareness of the firm’s signature invention, promote scientific thinking, and generate interest in medical manufacturing. Held (quite curiously) months apart from its namesake day (July 14), the class gave elementary and junior high school students the chance to operate an endoscope, locate polyps grasp “lesions” (sponges) in a simulated model.
“At the last of the class, many children cheerfully raised their hands for the staff’s question, ‘Thank you for joining this Endoscope’s Kids Class,’” a brief posting on the company’s website reads. “‘Who thinks [they may] want to become a doctor in the future?’ Olympus will continue to provide children opportunities to think about the importance of health and also to discover future dreams in order to realize our corporate philosophy, ‘Making people’s lives healthier, safer and more fulfilling.’”
That philosophy was rather difficult to fully execute in fiscal 2021 as COVID-19 shut down most of Western civilization and prompted hospitals worldwide to postpone or cancel elective procedures. The subsequent decline in surgeries reduced Olympus’ North American gastrointestinal and surgical endoscope sales by 10 percent last April, and its fiscal first-quarter revenue (ended June 30, 2020) by 28.4 percent.
In addition to impacting sales, the pandemic-induced lockdowns and social distancing measures forced Olympus to modify its manufacturing focus and physician services. The company moved 85 percent of its in-person training online, and offered up free use (for three months) of its cloud-based telecollaboration platform.
MedPresence integrates with any clinical video source to enable instant access to an OR or procedure room from anywhere in the world, according to the company. The platform enables clinicians to interact, communicate, and collaborate on treatment regimens in real-time, thus facilitating improved clinical efficiency and reducing personal contact (and personal protective equipment use).
Unlike standard webcam or PC-based video-sharing technology, MedPresence uses information from various clinical data sources, including the endoscopic medical tower employed during a procedure. Harnessing the real-time endoscopic view from inside a patient, physicians in other locations can access the point-of-care clinician’s perspective.
“Telecollaboration is a recognized tool for reducing exposure to pathogens and can be effective in protecting healthcare staff as well as hospital patients,” Ross “Rusty” Segan, M.D., Olympus Corporation’s global chief medical officer, told the press last April. “Olympus wants to share [the] MedPresence system during this critical time in an effort to reduce risk, conserve resources, and ensure that new approaches to this disease can be made available without barrier. Together, and with the best minds and technology on the task, we will defeat this coronavirus and its tragic effects.”
While victory is still not in sight, the world has made significant strides against SARS-CoV-2, developing rapid diagnostic tests to accurately measure infections and vaccines that protect against more contagious variants. Long-shuttered businesses are reopening, unemployment is falling, and the U.S. economy is quickly recovering.
Olympus is on the mend too, though the pandemic’s financial scars are forever etched in the company’s FY21 results. Total sales slipped 3.3 percent to 730.5 billion yen, operating profit shrunk 11.1 percent to 81.98 billion yen, and basic earnings per share plummeted nearly 75 percent to 10.05 yen, according to financial reports.
A second-half market recovery that triggered solid growth in both the Endoscopic and Therapeutic Solutions divisions limited the company’s full-year sales loss. Third-quarter Endoscopic Solutions Division (ESD) proceeds rose 9.3 percent to 112.4 billion yen, and Q4 revenue surged higher, swelling 11.1 percent to 124.9 billion yen. The Therapeutics Solutions Division (TSD) posted slightly lower growth: third-quarter sales increased 4.5 percent to 55.2 billion yen, and Q4 revenue jumped 8.4 percent to 59.9 billion yen.
The second-half surge in ESD and TSD revenue, however, was an inadequate match for the pecuniary damage inflicted by postponed or cancelled elective surgeries and in-person sales promotion restrictions (e.g., hospital visits, business negotiations). Consequently, FY21 revenue fell in both divisions despite a flurry of new product releases.
Therapeutic Solutions sales contracted 4.6 percent in the 12-month period ended March 30, 2021, to 206 billion yen, and operating profit tumbled 5.9 percent to 24.6 billion yen. A fourth-quarter voluntary recall also hampered revenue in this division, adding about 2 billion to the total shortfall. Olympus recalled roughly 26,000 disposable EndoTherapy devices in January (2021) over a packaging defect that potentially could compromise their sterility. The decision affected 113 models of balloon catheters, forceps, knives, needles, and stents distributed in the United States since early 2019. The company attributed the recall to a defective seal but said the problem did not cause any injuries.
A recall and voluntary duodenoscope replacement initiative also helped dampen FY21 Endoscopy sales. The division incurred a 10.4 billion charge for swapping out fixed cap tipped duodenoscopes with devices containing removable cap tips. Olympus also covered the undisclosed costs of its voluntary recall of 4,150 endoscopes late last summer (2020). Citing potential malfunction or infection risks, the company withdrew from the market roughly 3,900 BF-Q180 bronchoscopes sold in the United States and Europe between April 2005 and March 2019. The scopes were associated with a “higher rate of patient infections” than comparable products, but did not cause any serious health issues, according to Olympus.
The company also recalled about 250 CHF-CB30S choledochofiberscopes, used for biliary tract exams. Sold in the United States, Europe, and Japan between April 1998 and March 2020, the revoked products were flagged for unexpected parts detachment; such a scenario occurred in one case that required surgery to retrieve a tiny rubber part from a patient’s biliary tract, according to The Japan Times.
Between the recalls and COVID-19, the Endoscopic division stood little chance of turning a profit in fiscal 2021. Sales waned 1.5 percent to 419.5 billion yen and operating profit shrunk 4.3 percent to 104.7 billion yen.
Despite the various financial hurdles within its Medical business, Olympus edged closer to metamorphasizing into a global medtech company, a central goal of the firm’s 2019 reorganization plan.
Olympus scored two regulatory consents in the fiscal year and launched more than a dozen new products. U.S. Food and Drug Administration (FDA) decisions bookended the year, with the first—in April 2020—granting de novo classification to the company’s iTind non-surgical device for treating benign postatic hyperplasia. iTind is a flexible, three-strut nitinol device that expands over five days to help reshape the prostate and create channels for urine flow. Originally designed by Israeli medtech manufacturer Medi-Tate, the product won CE Mark approval in 2012. Olympus distributes Medi-Tate’s products in the United States through a strategic investment.
Nearly a year later (mid-March 2021), Olympus received FDA 510(k) clearance for its Narrow Band Imaging (NBI) to asses the neoplastic potential of colorectal polyps. NBI is an optical imaging technology that improves vessel visibility and mucosa surface patterns.
“We are excited about these newly cleared indications for using NBI to support colorectal cancer screening,” Kevin Mancini, vice president for Endoscopy at Olympus America Inc., said upon FDA approval. “NBI is an important tool, available as standard on all Olympus colonoscopes, which can be used by physicians to assist in decision-making with the goal of improving patient care.”
Olympus also helped improve patient care with its plethora of FY21 product releases. The new market entrants included:
- The EVIS X1 endoscopy system. Released in April 2020, the EVIS X1 features extended depth of field, red dichromatic imaging (for enhancing deep blood vessel visibility and GI bleeding sources), texture and color enhancement imaging (for better visibility of potential and extant lesions), and NBI. The EVIS X1 also provides cross-compatibility between two formerly separate systems: EVIS LUCERA ELITE and EVIS EXERA III.
- The TJF-Q190V duodenoscope, approved by the FDA in February 2020. Featuring a sterile, single-use distal endcap (for reducing contamination), the duodenoscope has a distal-end flushing adaptor for cleaning the elevator mechanism. It also comes with a sealed elevator wire channel port and a water-resistant scope connector to reduce fluid ingress risks. In addition, the TJF-Q190V duodenoscope offers an expanded field of view and better handing to execute endoscopic retrograde cholangiopancreatography (ECRP) on severely ill patients.
- The Soltive SuperPulsed Laser System, which enables physicians to deliver quicker and more efficient kidney stone removal and enlarged prostate treatment. Lab testing on synthetic kidney stones has shown the technology can dust stones in half the time it takes other laser systems, while also creating fine dust that is easily removed. In early cases, the laser system showed virtually no retropulsion at select settings and offered precise soft tissue cutting with visibly improved hemostasis capability. The Soltive system has a compact footprint at an eighth of the size of other Holmium YAG systems and requires only a standard 110-volt power outlet. It also generates 50 percent less noise than the Holmium YAG when measured at comparable settings, according to Olympus data on file.
- The HookKnifeJ and TriangleTipKnifeJ, two single-use electrosurgical knives for endoscopic submucosal dissection (ESD). The HookKnifeJ is designed specifically for the esophagus, stomach and colon, while the TriangleTipKnifeJ is for the esophagus and stomach., with a specific indication for Peroral Endoscopic Myotomy. Both knives feature integrated submucosal injection to support efficient, safe and more reliable ESD performance and reduce ESD procedure time.
- The HANAROSTENT Esophagus Through-the-Scope self-expanding metal stent. The newest addition to Olympus’ self-expanding stent portfolio helps to achieve luminal patency in various clinical applications and is designed for use in palliative treatment of esophageal stricture and/or trachea-esophageal fistula caused by malignant tumors. Offered in fully or partially covered options, the HANAROSTENT Esophagus TTS stent is pre-loaded into the delivery system, fitting down the working channel of a standard therapeutic gastroscope. It is then deployed for placement in the esophagus. The hook-and-cross nitinol design, unique to HANAROSTENT products, was built with patient comfort in mind and enables optimal radial and axial force allowing for the flexibility to conform to a patient’s anatomy and precisely target the stricture.
- The EZ Clip endotherapy device, a reloadable and rotatable hemostasis clip designed for bleed control and defect closure during GI endoscopy procedures in which more than one clip is needed. EZ Clip is the first and only reloadable, rotatable hemostasis clip with a simple push-pull action for loading, according to Olympus. The EZ Clip Applicator handle can be reloaded as needed to complete a procedure. EZ Clip offers a variety of clip jaw angle and opening width configurations that address diverse procedural needs, and color-coded cartridges simplify clip selection.
- The ViziShot 2 25 G needle for endobronchial ultrasound transbronchial aspiration (EBUS-TBNA). The ViziShot 2 25 G is the smallest gauge size of the Olympus EBUS-TBNA needle portfolio. Benefits of the smaller lumen and enhanced design features of the 25 G needle include high-quality samples, increased accessibility, improved puncture capabilities, and clear target visualization.
- Two colonoscopes, the PCF-H190T and the PCF-HQ190. The PCF-H190T is a slim, short-bending scope designed for tighter angulation without compromising the passage of treatment accessories. The HD device uses NBI to assist endoscopists using a validated polyp classification system. The PCF-HQ190 features dual-focus technology for increased mucosal visualization; its near-focus mode is associated with a more than 90 percent agreement with pathological analysis in assigning post-polypectomy surveillance following a colonoscopy.
- ENDO-AID, an artificial-intelligence-powered platform for the EVIS X1 endoscope, designed to automatically spot suspicious lesions and polyps during a colonoscopy in real time.
- Two new endoscopic retrograde cholangiopancreatography (ERCP) stone management devices. The StoneMasterV device serves as a two-in-one solution to enhance performance in endoscopic sphincterotomy and endoscopic papillary balloon dilation before retrieving large stones from the bile duct. StoneMasterV includes radiopaque and endoscopic center markers that offer better visualization and controlled positioning within the papilla. VorticCatchV is a single-use nitinol retrieval basket designed for use in ERCP. Available in an eight-wire configuration, VorticCatch features a spiral design that grows tighter at the distal end to better capture a wide range of stones. It features nitinol wire material that enables the basket to flex into bile duct pockets. The soft nature of nitinol wires facilitates the basket to fully open in narrow ducts.
- Olympus Procedure Kits and Hybrid Tubing, two new single-use and single-day devices that reduce the chances for cross-contamination. The kits are designed to aid in surgical procedure setup and execution, and improve procedural efficiency as well as post-procedure pre-cleaning. The combination tubing allows for input of air or CO2 and water through the scope and jet function. The all-in-one design helps decrease procedural setup time and increase efficiencies in the endoscopy suite. Similar to the Procedure Kits, the single-day tubing eliminates the need for the reprocessing of reusable tubing.
- Expanded capabilities for the VISERA ELITE II Surgical Imaging Platform. Launching with the expanded platform was the new rigid 3D ENDOEYE video laparoscope and a dedicated IR Xenon light source. The 3D ENDOEYE video laparoscope gives surgeons even more control than current 3D laparoscopes by providing true horizon orientation. Using a proprietary prism on the scope tip, the ENDOEYE allows surgeons to maintain their visual horizon continuously while rotating the scope, thus improving the overall spatial view of anatomical structures and tissues. In addition to the depth perception of the three-dimensional view, which is especially important in performing complex procedures such as intracorporeal suturing, the ENDOEYE offers consistent image quality and color reproduction and is focus-free and autoclavable. The VISERA ELITE II’s IR Xenon light source helps surgeons see blood vessels, blood flow and tissue perfusion of blood with the use of an injectable, fluorescent compound called ICG (Indocyanine Green), which rapidly binds to plasma proteins and fluoresces in the presence of near infra-red light.
- The SIF-H190 single balloon enteroscope, used for diagnosing and treating diseases of the small intestine such as obscure gastrointestinal bleeding. The SIFH190 improves manoeuvrability of inserted endo-therapeutic instruments by increasing the diameter of the instrument channel from 2.8mm of the conventional scope to 3.2mm. In addition, incorporating technologies such as Passive Bending and High Force Transmission that are equipped with Olympus’ colonoscopes, facilitates smoother passage through acute flexures in the small intestine.
In between its product debuts, Olympus purchased four companies in fiscal 2021: Arc Medical Design Limited, FH ORTHO, Veran Medical Technologies, and Quest Photonic Devices.
With the August 2020 deal for Arc Medical—developer of devices for improving adenoma detection during colonoscopies—Olympus added the Endocuff Vision device and other products, including Endocuff Glide and Enterocuff, to its already diverse portfolio.
The FH ORTHO deal (November 2020), meanwhile, enables Olympus to build on its lineup of minimally invasive solutions for ligament repair, foot and ankle conditions, and trauma surgery. Olympus is already active in orthopedics in Japan, where its joint venture Olympus Terumo Biomaterials distributes products such as bone substitutes and high tibial osteotomy plates and screws. Beyond this, Olympus also has developed the first ultrasound device indicated for arthroscopic surgery, supporting more accurate and safer bone cutting.
The FH ORTHO acquisition will enable Olympus to expand orthopedic product distribution through FH ORTHO’s existing channels, as well as certain FH ORTHO key products in Japan.
The $340 million deal for Veran Medical, on the other hand, enhances Olympus’ respiratory device portfolio, while the $60.7 million purchase of Quest Photonic Devices accomplishes the same task within the surgical endoscopy market. Quest develops advanced fluorescence imaging systems (FIS), which enable more surgical endoscopy capabilities compared to existing technologies. FIS refers to light imaging technologies that use fluorescent dyes to make specific anatomical structures visible. The dyes, combined with specific light wavelengths, allow clinicians to visualize tissues or lesions that are nearly invisible under normal white light.