Olympus to acquire Korean gastrointestinal stent firm Taewoong Medical

• Published date: 06 March 2023
• Publication title: The Korea Times

Olympus Corp., a global medical technology company committed to making people's lives healthier, safer and more fulfilling, has agreed to acquire Taewoong Medical, a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents to strengthen its product portfolio capabilities, the firm said Monday.

This will in turn contribute to improving patient outcomes through comprehensive solutions.

Taewoong will receive about $370 million (480 billion won) in cash. The company expects to complete the transaction on June 30, subject to customary closing conditions.

Incidences of biliary cancers, where metallic stents are used frequently as part of the treatment, have been increasing in recent years due to population aging.

Metallic stents are often used to treat jaundice, one of the symptoms of an obstructed or narrowed biliary tract caused by biliary cancer. The stent allows for minimally invasive treatment, supporting faster patient recovery.

Different types of stents are needed depending on the condition of the lesion and the patient's anatomy.

Taewoong, the leading manufacturer of GI stents, offers a variety of medical devices including metallic stents designed for biliary tract, esophagus, colon and duodenum treatments.

GI stents are used to help clear occlusions or strictures caused by cancer or other diseases.

Moreover, Taewoong's metallic stents combine strong radial force with high...