Olympus To Purchase Korean Gastrointestinal Stent Firm Taewoong Medical Co., Ltd
Olympus Company (Olympus), a world medtech firm dedicated to creating individuals’s lives more healthy, safer and extra fulfilling, has agreed to amass Taewoong Medical Co., Ltd, (Taewoong Medical), a Korea-based producer of medical units equivalent to gastrointestinal (GI) metallic stents to strengthen its GI endotheraphy product portfolio capabilities, and in flip, contributing to bettering affected person final result via complete options.
Taewoong will obtain roughly $370 million in money, of which $255.5 million can be paid on the closing and as much as $114.5 million can be paid if future milestones is achieved. The corporate expects to finish the transaction on June 30, 2023, topic to customary closing circumstances.
Incidences of biliary cancers, the place metallic stents are often used as one of many remedies, have been rising in recent times because of the getting older inhabitants. Metallic stents are sometimes used to deal with jaundice, one of many signs of an obstructed or narrowed biliary tract attributable to biliary most cancers. The stent permits for minimally invasive therapy, which helps sooner affected person restoration.
Various kinds of stents are wanted relying on the situation of the lesion and the affected person’s anatomy. Taewoong Medical, a number one producer of GI stents, affords a wide range of medical units together with metallic stents designed for biliary tract, esophagus, colon, and duodenum remedies. GI stents are used to assist clear occlusions or strictures by most cancers or different illnesses. Furthermore, Taewoong Medical’s metallic stents mix robust radial pressure with excessive flexibility, that are each essential necessities. This permits the stents to evolve to the form of anatomies equivalent to biliary tracts and the esophagus, and even when curved, it’s much less doubtless for the stent to buckle, which reduces the danger of restenosis. Taewoong Medical has a variety of high-quality stents realized via its distinctive design and expertise capabilities, permitting healthcare professionals to make use of minimally invasive therapy with essentially the most applicable gear for every affected person.
Olympus is focusing on GI as one among its key illness states, as outlined in its medical enterprise technique introduced in December 2021. The addition of Taewoong Medical’s medical units to its product portfolio will allow Olympus to turn out to be a complete options supplier within the GI market with diverse options in GI, contributing to improved affected person outcomes and elevating the usual of care.
“Olympus’ Endotherapy Division is dedicated to offering a full portfolio of clinically differentiated applied sciences geared toward treating sufferers who are suffering from GI illness, and with the acquisition of Taewoong Medical, this additional demonstrates our dedication to this vital section of our enterprise,” stated Gabriela Kaynor, International Division Head of Therapeutic Options Division at Olympus. “Taewoong Medical has developed a full portfolio of GI metallic stents that can instantly improve our already strong providing of GI units. I’m proud to welcome Taewoong Medical’s staff, and their dedication to the sphere of GI endoscopy to the Olympus’ Therapeutic Options Division.”
Kyong-min Shin, President and CEO of Taewoong Medical said, “For over three a long time, Taewoong Medical has been a number one producer of GI stents, famend for its progressive expertise and various product vary. Our firm has a strong market presence in Korea, Japan, and Europe, and exports to 86 international locations worldwide. Shifting ahead along with Olympus, Taewoong Medical will focus its capabilities to supply medical professionals and sufferers with superior services and products via steady funding in R&D and manufacturing expertise.”
Shifting ahead, Olympus will proceed to seek out and execute investments in addition to increase its product and expertise strengths via synergies with the merchandise and applied sciences of acquired corporations, making certain that they seize most worth via these integrations.
Overview of Taewoong Medical (as of Dec. 2022)
– Firm title: Taewoong Medical Co., Ltd,
– Tackle: Gimpo-si, South Korea
– Established: 1992
– President and CEO: Kyong-min Shin
– Income: 6,790 million JPY (as of Dec. 2021)
– Working revenue: 1,347 million JPY (as of Dec. 2021)
– Enterprise: R&D and manufacturing of non-vascular metallic stents.
– Variety of staff: 273
– Manufacturing: Gimpo-si, South Korea
– Worldwide footprint: Taewoong Medical presently sells in additional than 80 geographies.
 A medical machine product of a metallic mesh tube that’s positioned for dilating a stenosis inside a tract equivalent to biliary, esophagus, colon and duodenum.
 Guoqing Ouyang MM et al., “The worldwide, regional, and nationwide burden of gallbladder and biliary tract most cancers and its attributable threat components in 195 international locations and territories, 1990 to 2017: A scientific evaluation for the International Burden of Illness Research 2017”
 Jin-Seok Park, Seok Jeon, Don Haeng Lee “Current Advances in Gastrointestinal Stent Growth”
 Merchandise or units offered embrace future expertise which can be pending regional regulatory approval and will not be obtainable on the market in all areas.
 Isayama H, Nakai Y, Hamada T, et al.: Understanding the Mechanical forces of Self-Expandable Steel Stents within the Biliary Ducts. Curr Gastroenterol Rep 18 : 64, 2016.
 Calculated on the alternate price of JPY 10.61 per 100 KRW (alternate price as of the top of January 2023).