Republic of Korea: Olympus strengthens gastrointestinal endotherapy offerings with Taewoong Medical acquisition

Olympus, a global medtech company, is to acquire Taewoong Medical, a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents, for US$370m. The acquisition strengthens Olympus’ GI endotherapy product portfolio capabilities. Taewoong will receive US$255.5m at the close of the transaction and up to US$114.5m based on future milestones being achieved. The transaction…