Hoya (TYO:7741) subsidiary Pentax Medical said today it acquired over 90% of the shares in Spanish and Portugeuese endoscopy and surgery product and service company Simmedica.
Pentax Medical said it made the decision to acquire a majority ownership in the company based upon an increase in sales volume and service over the recent years.
“I am delighted that Pentax Medical has further invested into Simmedica, as Spain and Portugal are promising markets for us and we are eager to drive our growth and bring our market leading products and services to as many customers in these countries as possible,” Pentax EMEA prez Rainer Burkard said in a press release.
As part of the deal, current Simmedica managing director José Ruiz will take charge of the company, supported by Rafael Mosquera who will operate as the company’s general manager.
“I am very pleased about this important step in the development of Simmedica. My team and I are very excited to work with Pentax Medical on common goals and sales strategies,” Ruiz said in a prepared statement.
The companies did not release any financial details of the transaction.
Last September, Pentax Medical said it agreed to buy a stake in U.K. electrosurgery device maker Creo Medical for an unspecified amount. The move is part of Pentax Medical’s plan to get into the endoscopic therapy device market, the Japan-based company said.