Japan's Olympus to expand into stents with $370m acquisition

Deal marks major foray into new area for world's top endoscope maker

20230224 Taewoong Medical and olympus

Olympus is looking to beef up its medical device offerings and find new revenue sources outside its core strength in optical equipment. (Source photos by Reuters and Taewoong Medical)

MITSURU OBE, Nikkei Asia chief business news correspondent

TOKYO -- Olympus will acquire South Korean stent maker Taewoong Medical for about $370 million in its second-biggest acquisition ever, the Japanese medical devices company said on Friday.

The deal marks a major expansion for the world's leading endoscope maker as it looks to beef up its medical device offerings and find new revenue sources outside its core strength in optical equipment.

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