Research & Development
Olympus Corporation exercises call option for the acquisition of Medi-Tate Ltd, Israel
1 March 2021 -

Medical technology company Olympus Corporation said on Friday that it has exercised its call option with respect for the acquisition of the remainder of the shares in Medi-Tate Ltd, based in Israel.

Medi-Tate is a medical device manufacturer engaged in the research and development, production and sale of devices for the minimally invasive treatment of benign prostatic hyperplasia (BPH). Its flagship product iTind has received a European CE mark and US FDA cleared.

Under the initial investment agreement in Medi-Tate, Olympus acquired the rights to distribute Medi-Tate products as well as gave Olympus an option to acquire 100% of the Israeli company at a later date.

Upon closing, the planned acquisition would further strengthen Olympus' Therapeutic Solutions Division, a key pillar in its future growth strategy and solidify its position as a leader in the field of urological devices.

With focus on Therapeutic Solutions Division (TSD), Olympus has identified gastroenterological endotherapy devices, urological devices and respiratory endotherapy devices as three priority therapeutic areas. It has decided t to explore its potential in the treatment of BPH and to expand its minimally invasive surgical solutions. BPH is a condition that nearly 80% of men will face in their lifetime and that ratio is higher in older ages. iTind, a temporarily implanted nitinol device, supports the relief of LUTS due to BPH.