Olympus Announces Intention to Acquire Lithotripsy Systems from Cybersonics, Inc.

Acquisition underscores Olympus' commitment to expanding U.S. manufacturing and enhancing treatment of stone disease

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Apr 10, 2018, 09:00 ET

CENTER VALLEY, Pa., April 10, 2018 /PRNewswire/ -- On April 10, 2018, Olympus signed a definitive agreement to acquire lithotripsy system design and production technology from Cybersonics, Inc., based in Erie, PA. Olympus is a leading precision technology provider, designing and delivering innovative solutions for medical and surgical procedures, among other core businesses. Olympus' dual action lithotripsy system ShockPulse-SE®™ and CyberWand®™, currently manufactured by Cybersonics, will now be part of Olympus' urology competence. This acquisition will further enable the company to improve clinical outcomes, reduce overall costs and enhance quality of life for patients.

Olympus Announces Intention to Acquire Lithotripsy Systems from Cybersonics, Inc., underscoring its commitment to expanding U.S. manufacturing and enhancing treatment of stone disease. Olympus’ dual action lithotripsy system ShockPulse-SE®™ and CyberWand®™, currently manufactured by Cybersonics, will now be part of Olympus’ urology competence.

Intracorporeal Lithotripsy has long proven to be an effective, less invasive method for breaking up stones in the kidney, bladder or ureter. CyberWand is a dual probe electromechanical device capable of fragmenting and aspirating calculi in the kidney, bladder or ureter. ShockPulse-SE, a dual action lithotripter, simultaneously produces both a constant ultrasonic wave and intermittent shockwave energy via a single probe to greatly reduce procedure time.

Moving forward, ShockPulse-SE and CyberWand will be serviced and manufactured by Olympus' subsidiary, Olympus Surgical Technologies America (OSTA). OSTA specializes in innovative research and development and manufacturing of medical devices in North America. Intracorporeal Lithotripsy is integral to the current strategic growth plan for Olympus' urology business, and the integration of the design and production technology of these devices will further strengthen Olympus' position as a global leader in the urology market.

"We are thrilled to acquire Cybersonics' lithotripsy systems and add them to our already powerful urology portfolio," said Joe Doherty, President, OSTA. "This acquisition supports one of our key strategic initiatives to drive growth in this core part of our business as we establish our design and production competence in lithotripsy, and allows us to leverage our internal manufacturing expertise to better meet the needs of medical professionals and patients."

"We have enjoyed a longstanding, mutually beneficial relationship with Olympus," said Geoff Bond, President, Cybersonics. "As we look to the future, it makes sense that Olympus take over the manufacturing and design of the lithotripsy products in order to provide a seamless experience to the end customer."

Customers will experience no immediate changes in resources, services or contacts. More details on the acquisition will be available in the future.

About Olympus Corporation of the Americas

Olympus is a global technology leader, crafting innovative optic and digital solutions in medical technologies; life sciences; industrial solutions; and cameras and audio products. Our solutions enable specialists to look inside the human body, further scientific research, ensure public safety and capture images of the world. Throughout our nearly 100-year history, Olympus has focused on being true to society and making people's lives healthier, safer and more fulfilling.

Olympus Corporation of the Americas (OCA)—a wholly owned subsidiary of Olympus Corporation in Tokyo, Japan—is headquartered in Center Valley, Pennsylvania and employs more than 5,000 employees throughout locations in North and South America. For more information, visit www.olympusamerica.com.

Olympus...True to You. True to Society. True to LIFE.

About Cybersonics, Inc.

Cybersonics, Inc. is a leading engineering company specialized in the design and manufacturing of medical devices based on ultrasonic technology. Originating out of Blackstone Ultrasonics as the medical device division, Cybersonics has a long history of patented innovation and expertise in the field of developing high-power ultrasonic systems and devices used in fields from Neurosurgery to Urology to peripheral vascular surgery.

SOURCE Olympus Corporation of the Americas