The U.S.-based medical division of Olympus has reached an agreement to buy Spiration, a pulmonary device company in Redmond, WA. Financial details of the deal are not currently available.
Spiration will become a consolidated subsidiary of Olympus, a company that developed the first gastro-camera in 1950 and has since developed fiberscopes and videoscopes for direct internal observation of the human body. In a news release, Olympus said in 2008 it signed an exclusive distributorship agreement with Spiration, which specializes in the development of minimally invasive devices for the treatment of acute and chronic lung conditions.
Olympus feels the new subsidiary will help accelerate its business related to the IBV valve system.