Olympus Medical Buys Spiration

The U.S.-based medical division of Japanese industrial giant Olympus, has reached an agreement to buy Spiration, a pulmonary-device company in Redmond, Wash. Financial details of the deal were not disclosed.

Spiration will become a consolidated subsidiary of Olympus, a company that developed the first gastro-camera in 1950 and has since developed fiberscopes and videoscopes for direct internal observation of the human body. In a news release, Olympus said in 2008 it signed an exclusive distributorship agreement with Spiration, which specializes in the development of minimally invasive devices for the treatment of acute and chronic lung conditions.

“The agreement granted Olympus Medical exclusive rights to market and distribute, through the Olympus Group’s distribution channels, in Europe and Japan, Spiration’s IBV Valve System, a device for the bronchoscopic treatment of emphysema and air leaks of the lung,” the release said. It noted that in the United States, the IBV Valve System is approved by the U.S. Food and Drug Administration for control of prolonged air leaks after certain surgeries, and that the system is the subject of a clinical trial to test its use in treating severe emphysema.

“Spiration possesses a high level of technological capability and deep insights into the respiratory field,” said Haruhito Morishima, president of Olympus Medical. “Their products are also an ideal complement to the Olympus portfolio of bronchoscopes and equipment. We will take advantage of the synergies of the two companies in our development of next-generation endoscopic respiratory products that better help physicians diagnose, treat and observe conditions of the airways and lungs.”

Olympus Medical intends that Spiration’s full participation in Olympus as a consolidated subsidiary will help accelerate its business related to the IBV valve system, according to the release.