TOKYO & HAMBURG, Germany & CENTER VALLEY, Pa.--(BUSINESS WIRE)--Olympus Corporation (”Olympus” – Director, Representative Executive Officer, President and CEO: Yasuo Takeuchi) announced today that it has finalized the acquisition of Israeli medical device company Medi-Tate Ltd. (“Medi-Tate” – CEO: Ido Kilemnik) following the announcement of its decision to exercise the call option in February, 2021. Through this acquisition, Olympus expands its business line in offering in-office treatment for benign prostatic hyperplasia (BPH) treatment and solidifies its position as a leader in the field of urological devices.
Medi-Tate is a medical device manufacturer engaged in the research and development, production, and sale of devices for the minimally invasive treatment of BPH. The company’s flagship product “iTind” has received U.S. FDA de Novo authorization and a European CE mark. With its initial Medi-Tate investment, Olympus has had the right of distribution since November 2018.
The incidence of BPH, one of the most common diseases in aging men and the most common cause of lower urinary tract symptoms (“LUTS”), is expected to increase as the general global population gets older. According to the American Urological Association, BPH is a condition that nearly 80% of men will face in their lifetime and that ratio is higher in older ages.
