Olympus and Terumo Announce Change in Form of Contract From a comprehensive partnership agreement to individual project agreements
October 31, 2023
Olympus Corporation ('Olympus') and Terumo Corporation ('Terumo') have agreed to change their 'Comprehensive partnership agreement covering the development of medical equipment,' established in 2005, to individual contracts for single projects.
The two companies entered the comprehensive partnership agreement in 2005 with the main objectives of strengthening the relationship through a capital partnership and strengthening the framework for promoting collaboration. As part of this agreement, Olympus and Terumo have developed 'VisiGlide', a disposable guidewire for endoscopic treatment of the pancreas and bile ducts in the gastrointestinal field, and 'Virtuosaph' for endoscopic vein harvesting*1 in the cardiovascular surgical field and have marketed both products through Olympus and Terumo sales channels. In addition to product development, Olympus and Terumo mutually utilized their management resources through capital partnerships and personnel exchanges.
In 2017, both companies decided that a good cooperative relationship could continue without a capital relationship and terminated the capital partnership.
In light of these considerations, both companies agreed that the objectives under the comprehensive partnership agreement have been achieved and will continue cooperating in product development and sales under individual contracts.
Moving forward, Olympus and Terumo will continue to strive to improve the world's medical standards by leveraging their strengths and good cooperative relationships to continue providing medical devices to the global market.
1 A small hole is pierced in the leg, and an endoscope is inserted to detach and remove the blood vessels.
At Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide best-in-class solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states.
For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world.
Terumo is a global leader in medical technology and has been committed to "Contributing to Society through Healthcare" for 100 years. Based in Tokyo and operating globally, Terumo employs more than 30,000 associates worldwide to provide innovative medical solutions in more than 160 countries and regions.
The company started as a Japanese thermometer manufacturer and has been supporting healthcare ever since. Now, its extensive business portfolio ranges from vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology, to medical products essential for daily clinical practice such as transfusion systems, diabetes care, and peritoneal dialysis treatments.
Terumo will further strive to be of value to patients, medical professionals, and society at large.
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