DePuy Synthes acquired Olive Medical Corporation.
Olive Medical was founded in 2009 as a worldwide medical device manufacturing company that provides affordable HD MIS imaging equipment to the operating room and physician offices. DePuy Synthes, a subsidiary of Johnson & Johnson, acquired the company at the same time that other large traditionally orthopedic device companies are expanding into diverse investments:
• Stryker acquired assets of CHG Hospital Beds in January
• Tecomet acquired Symmetry Medical OEM Solutions in December 2014
• Medtronic acquired NGC Medical to boost hospital solutions in August 2014
• Smith & Nephew acquired LifeModeler, a biomechanical human body simulation tools and services company, in April 2012
Olive Medical has 20 employees and its visualization technology is sold in 20 countries around the world. Here are five things to know about the acquisition:
1. Olive Medical's visualization portfolio augments the DePuy Synthes Mitek Sports Medicine arthroscopy line. DePuy Synthes can now enter the arthroscopic visualization market for patients with shoulder, knee, hip and small joint pain or injury.
2. The Mitek Sports Medicine procedural enabled portfolio includes the VAPR Radiofrequency System and FMS fluid management and tissue debridement system to maximize and maintain optimal visualization. Both systems are used alongside visualization in the operating room.
3. Olive Medical has cost-effective, high definition visualization solutions. Many providers are looking for cost-effectiveness when making instrumentation and implant purchases.
4. DePuy Synthes will provide arthroscopic visualization solutions as part of its full-line offering and expand access to the technology through the company's global distribution network.
5. The Mitek Sports Medicine line also provides implants and instruments for minimally invasive soft tissue repair, including a full line of screws and suture anchors addressing a full range of arthroscopic sports medicine procedures.
The terms of the agreement were not disclosed.