In the latest move aimed at expanding its endoscopic surgical imaging portfolio, Olympus has announced an agreement to acquire Netherlands-based Quest Photonic Devices B.V. for $60.7 million.
Building on a series of strategic partnerships and acquisitions throughout 2020, Olympus anticipates that the addition of Quest’s proprietary fluorescent imaging systems will open its endoscopic surgical imaging line to a greater array of procedures.
“Olympus has been introducing advanced technologies such as 3D and 4K in the field of endoscopic imaging, and Quest has imaging systems for fluorescence-guided surgery in minimally invasive procedures,” the company observed in a notification detailing the acquisition.
Quest Photonic's fluorescence-guided surgery replaces the conventional white light surgeons rely on during procedures with a fluorescent dye that adheres to specific anomalies like tumors or lesions, enabling them to home in on specific cellular material for more complete removal of certain cancer cells and lesions.
The deal is the latest in a series of recent purchases and strategic partnerships for Olympus, which continues to expand its footprint in medical imaging. Earlier this month, Olympus partnered with Hitachi to develop endoscopic ultrasound
With increasing demand for minimally invasive procedures, the market for fluorescent imaging systems is anticipated to grow at a rate of 12% annually from approximately $310 million in 2018, to as much as $827 million by 2027, according to Transparency Market Research.