Veran Medical Technologies

Piper Sandler served as exclusive financial advisor to Veran Medical Technologies on its sale to Olympus Corporation (TSE: 7733) for up to $340 million in cash.

Client Description

Veran Medical Technologies has developed and commercialized a next generation electromagnetic thoracic navigation platform for interventional pulmonology procedures. The company’s system allows Pulmonologists or Thoracic Surgeons to access all lung nodules in a single procedure, regardless of nodule size or location. This enables physicians to perform same-day diagnoses and eliminates the cost and risk of unnecessary procedures. The company was founded in 2005 and is headquartered in St. Louis, Missouri.

Counterparty Description

The acquisition will be implemented through Olympus Corporation of the Americas, a subsidiary of Olympus Corporation (TSE: 7733). Since its founding in 1919, Olympus has become a precision technology leader creating innovative solutions in the medical technology, life science, industrial solution, and camera markets. Olympus’ Medical business uses innovative capabilities in medical technology, therapeutic intervention and precision manufacturing to help healthcare professionals deliver diagnostic, therapeutic and minimally invasive procedures to improve clinical outcomes, reduce overall costs, and enhance the quality of life for patients. Olympus’ Medical portfolio includes endoscopes, laparoscopes and video imaging systems, as well as surgical energy devices, system integration solutions, medical services and a wide range of endotherapy instruments for endoscopic and therapeutic applications.