Low cost visualization provider, Salt Lake City’s Olive Medical Corporation is to be acquired by the DePuy Synthes Companies and will sit comfortably in the Mitek Sports Medicine portfolio.
Olive Medical has hit our pages several times in the past with its promise to deliver “affordable” high definition (HD) visualization systems for minimally invasive surgery (MIS).
Founded as recently as 2009, Olive Medical has 20 employees and already offers its HD MIS imaging equipment to the operating room and physician offices in 20 countries across the world.
DePuy Synthes Mitek Sports Medicine sees the obvious fit into its arthroscopy line, a market it has hitherto avoided as it focused on the procedural end of things. Aside from its VAPR® Radiofrequency Ablation/Coagulation System, and the legendary FMS fluid management line, Mitek has not carried a core arthroscopic capital equipment range. This acquisition will quickly enable the company to enter the arthroscopic visualization market across all joints with an offering that is likely to major on its low cost. It’s entering a lively old market, dominated by some well entrenched names, but Mitek’s reach ought to offer a solid promotional platform for the Olive systems.
Financial terms of the transaction have not been not disclosed.
Source: DePuy Synthes Companies