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Japan's Olympus Corporation Backs Israeli Medical Company Medi-Tate

Olympus agreed to invest $20 million in Medi-Tate, which develops medical devices to relieve symptoms of benign prostate enlargement

CTech 11:5305.11.18
Tokyo-listed medical device and life science company Olympus Corporation has agreed to invest $20 million in Israeli medical device company Medi-Tate Ltd. Israeli investment firm Xenia Venture Capital Ltd., which holds an 18.14% stake in Medi-Tate, announced the deal in a filing to the Tel Aviv Stock Exchange Sunday.

 

Medi-Tate develops medical devices to relieve symptoms of benign prostate hyperplasia (BPH), or prostate enlargement. As part of the deal, Olympus will gain exclusive rights to market Medi-Tate’s product in several undisclosed countries. Olympus will retain the right to buy all remaining Medi-Tate stock, pending Medi-Tate’s ability to meet certain milestones, Xenia said.

 

Illustration. Photo: Shutterstock Illustration. Photo: Shutterstock

 

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