{"id":15048,"date":"2023-02-27T08:32:39","date_gmt":"2023-02-27T08:32:39","guid":{"rendered":"https:\/\/g-medtech.com\/news\/?p=15048"},"modified":"2024-01-25T11:56:44","modified_gmt":"2024-01-25T11:56:44","slug":"olympus-to-acquire-taewoong-medical-for-370-million","status":"publish","type":"post","link":"https:\/\/g-medtech.com\/news\/de\/olympus-to-acquire-taewoong-medical-for-370-million\/","title":{"rendered":"Olympus to Acquire Taewoong Medical for $370 Million"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><a href=\"https:\/\/g-medtech.com\/directory\/listings\/olympus\/\" target=\"_blank\" rel=\"noreferrer noopener\">Olympus<\/a> has recently announced its plan to acquire Taewoong Medical, a Korea-based manufacturer of gastrointestinal (GI) metallic stents, in order to expand its GI endotherapy product portfolio capabilities. The acquisition will enable Olympus to become a comprehensive solutions provider in the GI market, contributing to improved patient outcomes and elevating the standard of care.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the agreement, Taewoong Medical will receive approximately $370 million in cash, with $255.5 million to be paid at the closing and up to $114.5 million to be paid if future milestones are achieved. The deal is expected to be completed on June 30, 2023, subject to customary closing conditions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Taewoong Medical offers a variety of metallic stents designed for biliary tract, esophagus, colon, and duodenum treatments, combining strong radial force with high flexibility. With its unique design and technology capabilities, the company provides a wide range of high-quality stents, allowing healthcare professionals to use minimally invasive treatment with the most appropriate equipment for each patient.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/g-medtech.com\/directory\/listings\/olympus\/\" target=\"_blank\" rel=\"noreferrer noopener\">Olympus<\/a> is targeting GI as one of its key disease states, as outlined in its medical business strategy announced in December 2021. The addition of Taewoong Medical&#8217;s medical devices to its product portfolio will further enhance Olympus&#8217; position in the market, enabling it to offer varied solutions in GI and ultimately leading to better patient outcomes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Note: On 24 January 2024, <a href=\"https:\/\/g-medtech.com\/directory\/listings\/olympus\/\" target=\"_blank\" rel=\"noreferrer noopener\">Olympus<\/a><\/em> <em>announced the completion of the acquisition of Taewoong Medical.<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>to enable Olympus to become a comprehensive solutions provider in the GI market, contributing to improved patient outcomes and elevating the standard of care<\/p>","protected":false},"author":2,"featured_media":15049,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[5,488,680,10],"tags":[595,33,766],"class_list":["post-15048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-breaking-news","category-cardiovascular","category-strategic-development","tag-ma","tag-olympus","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/posts\/15048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/comments?post=15048"}],"version-history":[{"count":4,"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/posts\/15048\/revisions"}],"predecessor-version":[{"id":28533,"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/posts\/15048\/revisions\/28533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/media\/15049"}],"wp:attachment":[{"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/media?parent=15048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/categories?post=15048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/g-medtech.com\/news\/de\/wp-json\/wp\/v2\/tags?post=15048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}