Olympus Corp. of Americas is buying Image Stream Medical Inc., a healthcare technology company. Financial terms of the deal were not disclosed.
Image Stream Medical develops medical technology used for procedure recording, procedure space integration, medical virtual presence, live streaming, video conferencing, information integration, content editing and medical content management. The target, based in Littleton, Massachusetts, intends to leverage Olympus' global reach and distribution channel, infrastructure support and market share. The buyer hopes the acquisition of Image Stream Medical will enable both companies to improve clinical outcomes and reduce overall medical costs.
Olympus, founded in 1919, is a global technology company creating opto-digtial products for the healthcare, life sciences and consumer products industries. The Center Valley, Pennsylvania-based target manufactures medical and surgical tools, scientific products such as microscopes, and cameras and audio equipment. Image Stream Medical will continue to operate as a wholly owned subsidiary using its current name.
The largely unmet needs of heart patients are currently driving medical device M&A. Recent medical device deals include: Boston Scientific (NYSE: BSX) buying Swiss heart device developer Symetis for $435 million in up-front cash; Edwards Lifesciences Corp.’s (NYSE: EW) acquisition of Valtech Cardio Ltd. for nearly $690 million to expand its heart valve repair and replacement services; Medtronic plc’s (NYSE: MDT) purchase of HeartWare International Inc. for about $1.1 billion; and Teleflex Inc. (NYSE: TFX) adding Vascular Solutions Inc. (Nasdaq: VASC) for approximately $1 billion.