Olympus buys Israeli co Medi-Tate for USD 300 million
Medi-Tate, which develops minimally-invasive treatments for the lower urinary tract, will become the Japanese medical device company’s Israel R&D center.
Medi-Tate, which was founded in 2017 by CEO Ido Kilemnik, develops treatments for conditions in the lower urinary tract. The company has raised USD 37 million to date, so that an acquisition by Olympus at a company valuation of USD 300 million represents a profitable exit for its shareholders, which include Olympus itself.
Medi-Tate has 12 employees including 11 at its development center in Hadera in Israel and one in London. Following the acquisition, Medi-Tate will become Olympus’s R&D Center in Israel.
Olympus is traded on the Tokyo Stock Exchange, at a market cap of USD 27 billion.
Medi-Tate was represented in the deal by Adv. Atir Jaffe, a Senior Partner at Pearl Cohen.
