Olympus acquires Israel-based Medi-Tate

Olympus (TYO:7733) announced that it finalized the acquisition of benign prostatic hyperplasia (BPH) treatment developer Medi-Tate.

The Japanese conglomerate did not disclose the financial terms of the acquisition, which was finalized after the company exercised a call option in February, according to a news release.

Israel-based Medi-Tate develops the iTind device, which it designed as a flexible, three-strut nitinol device that can be placed during an in-office procedure. It expands over five days to create channels for allowing urine to flow and reshaping the prostate. Medi-Tate’s device won CE Mark approval in Europe in 2012.

Olympus previously held the exclusive right to distribute Medi-Tate products in the U.S. through a strategic investment dating back to 2018, having announced FDA de novo approval for the device in April 2020.

“The acquisition of Medi-Tate aligns with our corporate strategy of focusing on three priority therapeutic areas w…

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