Olympus Acquires Domestic Stent Company Taewoong Medical for 494 Billion KRW

Olympus announced on the 25th that it has completed the acquisition of Taeung Medical, a domestic medical company specializing in gastrointestinal metal stents. The acquisition amount is $370 million (approximately 494 billion KRW).

Olympus announced on the 25th that it has acquired Taeung Medical, a domestic medical company specializing in metal stents for gastroenterology. The photo shows the logos of Olympus (top) and Taeung Medical.
[Photo by Olympus]

With this acquisition, Taeung Medical will be incorporated as a subsidiary of Olympus, and Olympus will gain rights over the overall business and operations, including Taeung Medical’s domestic business sites and manufacturing facilities.

Olympus stated, "Through Taeung Medical, which has strengths in the development and manufacturing of gastrointestinal stents for bile duct, esophagus, colon, and duodenum, we will be able to provide more comprehensive and diverse solutions in the gastrointestinal field." The company expects this to contribute to improving the level of gastrointestinal disease treatment and patient prognosis.

Gabriella Keiner, Head of Olympus Therapeutic Solutions Division, said, “We are very pleased to integrate Taeung Medical’s excellent portfolio of gastrointestinal metal stents, talent, and technology with Olympus’s business units,” adding, "This acquisition will be an important milestone in Olympus’s commitment to providing clinically differentiated solutions to patients suffering from gastrointestinal diseases." She continued, "We will expand Olympus’s core product lineup in the gastrointestinal field globally," and added, "Together with Taeung Medical, we will create new value for various stakeholders and improve the level of care."

Shin Kyung-min, CEO of Taeung Medical, explained, "Taeung Medical is a leading medical company offering various products through independent design," and said, "We are pleased to be able to reach more patients worldwide together with Olympus."