Taewoong Medical

History

2023: Olympus bought Taewoong Medical for $370 million

At the end of February 2023, Olympus announced the acquisition of Korean gastrointestinal stent manufacturer Taewoong Medical for $370 million.

The deal comes after Olympus outlined plans to focus its medical business on three therapeutic areas: gastrointestinal, urological and respiratory.

The transaction amount amounted to $370 million.

Olympus' Endotherapy Division is committed to providing a complete portfolio of clinically differentiated technologies aimed at treating patients suffering from gastrointestinal (GI) diseases, according to Gabriela Keinor, Head of Global Therapeutic Solutions at Olympus. In oncology, colon and rectal stenting is the optimal method of palliative treatment at high surgical risk and the first stage of emergency care, before planned surgery.

Taewoong Medical has developed a full portfolio of metal GI stents, according to Keinor, they will expand the GI device offering at Olympus. Stents from Taewoong Medical have been used since 2018 to address blockages caused by diseases including cancer. Taewoong Medical's revenue amounted to $50 million in 2021 through the sale of metal stents for the treatment of biliary tract, esophagus, colon and duodenum.

According to the medical journal Medtechdive, as of February 2023, metal self-expanding stents made of nitinol or stainless steel 20-24 cm long and 4-10 cm in diameter are most often used to restore intestinal patency. A special coating is applied to the surface of modern stents that prevents the germination of a malignant tumor and repeated obstruction. The procedure lasts about 60 minutes on average. Usually, the patient is left in the hospital for one night so that doctors can monitor his condition and provide assistance in case of complications.^[1]

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