Olympus (TYO:7733) announced that it entered into an agreement to acquire Quest Photonic Devices for up to $60.7 million (€50 million).
Tokyo-based Olympus’ total price for the acquisition includes milestone payments as the company seeks to strengthen its surgical endoscopy capabilities, according to a news release.
Netherlands-based Quest develops fluorescence imaging systems (FIS) for the medical field, boosting surgical endoscopy capabilities when compared to standard imaging technologies. The technology is seen as capable of expanding opportunities in the space for Olympus beyond its Visera Elite II laparoscopic imaging system for identifying blood vessels or lymph nodes under the surface tissues.
Quest’s technologies offer multi-spectral imaging and imaging systems for medical applications, ranging from fluorescence imaging to photodynamic therapy, strengthening Olympus’ position in the medical imaging space.
“We are delighted to incorporate Quest’s advanced FIS capabilities into our comprehensive medical imaging portfolio,” Olympus global head of surgical endoscopy Kanichi Matsumoto said in the release. “The combination of the Quest Spectrum product line’s leading FIS technologies with Olympus’ existing laparoscopic imaging system Visera Elite II will enable Olympus to offer surgeons a wide range of high-quality fluorescence imaging solutions.”
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