Olympus Announces Investment in Israeli-Based Manufacturer of Minimally Invasive Benign Prostatic Hyperplasia (BPH) Devices
Investment underscores Olympus’ commitment to enhancing BPH patient care
CENTER VALLEY, Pa., (November 7, 2018) – Olympus, a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, among other core businesses, announced it entered into a final agreement with Medi-Tate Ltd., an Israeli-based medical device manufacturer engaged in the research and development, production and sale of devices for the treatment of Benign Prostatic Hyperplasia (BPH). The agreement includes the right for Olympus to distribute Medi-Tate’s products and an option that, in the future if exercised, allows Olympus to acquire 100% of the company. The investment will allow Olympus to strengthen its support in urology through expanded options in enhanced patient care, with complementary offerings to its already robust BPH portfolio.
BPH is a condition that 8 out of 10 men will face in their lifetimes.i Medication and surgical treatment are among the usual treatment options for BPH, while in-office procedures are of increasing interest as part of an overall emphasis in healthcare on value-based care.
Olympus has an innovative legacy of developing and marketing a market-leading resection portfolio for the Transurethral Resection of the Prostate (TURP) procedure as an option for BPH treatment. New options made possible through the Medi-Tate agreement will mean continued leadership in this important specialty area for men’s health. Initially, regulatory approvals and other relevant licenses in select countries of the Medi-Tate product, “iTind”, will be obtained. iTind is currently European CE marked.
“We are thrilled about our investment in Medi-Tate and strengthening our patient care offerings in BPH, adding to our market-leading plasma resection portfolio for TURP,” said Nacho Abia, President and CEO of Olympus Corporation of the Americas. “The agreement supports one of the company’s key strategic initiatives to drive growth in our urology business and expand our minimally invasive surgical solutions. This will further enable Olympus to improve clinical outcomes, reduce overall costs and enhance quality of life for patients.”
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About Olympus Corporation of the Americas
Olympus is a global technology leader, crafting innovative optic and digital solutions in medical technologies; life sciences; industrial solutions; and cameras and audio products. Our solutions enable specialists to look inside the human body, further scientific research, ensure public safety and capture images of the world. Throughout our nearly 100-year history, Olympus has focused on being true to society and making people’s lives healthier, safer and more fulfilling.
Olympus Corporation of the Americas (OCA)—a wholly owned subsidiary of Olympus Corporation in Tokyo, Japan—is headquartered in Center Valley, Pennsylvania and employs more than 5,000 employees throughout locations in North and South America. For more information, visit www.olympusamerica.com.
About Medi-Tate Ltd.
- Established: February 2007
- CEO: Ido Kilemnik
- Business: Research and development, production, and sales, of innovative devices for treatment of lower urinary tract symptoms (LUTS)
- Headquarters: Or Akiva, Israel
i American Urological Association, Benign Prostatic Hyperplasia. Available at: https://www.auanet.org/education/auauniversity/medical-student-education/medical-student-curriculum/bph