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Gus Iversen, Editor in Chief | May 27, 2026
Olympus plans to acquire Israel-based BioProtect for $270 million, expanding its urology and oncology portfolio with technology used during prostate cancer radiation therapy.
The Tokyo-based medical technology company said Tuesday it signed a definitive agreement to acquire the privately held device manufacturer, which develops biodegradable rectal spacer systems intended to reduce radiation exposure to surrounding tissue during prostate cancer treatment. The transaction is expected to close by the end of the second quarter of 2026, pending customary conditions.
BioProtect’s lead product, the Balloon Spacer system, is designed to create temporary space between the prostate and nearby organs during radiation therapy. The implant biodegrades after treatment. The company said the device has been used in more than 11,000 procedures worldwide since its commercial launch in 2023.
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Olympus said the acquisition supports its strategy to expand in adjacent therapeutic areas tied to endoscopy, including gastrointestinal and urological care. The company cited prostate cancer as one of the most commonly diagnosed cancers in men globally, and pointed to projected growth in the rectal spacer market over the next decade.
“We are pleased to welcome BioProtect to Olympus,” Seiji Kuramoto, executive officer and Surgical and Interventional Solutions Division head at Olympus, said in a statement. “BioProtect brings a highly differentiated solution to prostate cancer care, with a compelling clinical value proposition and early commercial success.”
BioProtect, founded in 2004, employs about 130 people and manufactures its products in Israel. The company reported approximately $14.5 million in revenue in 2025.
“It represents a significant advancement for BioProtect, our physician partners and ultimately the patients we serve,” BioProtect CEO Itay Barnea said in a statement.
Olympus did not disclose additional financial terms beyond the purchase price, though it said a portion of the payment will be held in escrow for a period tied to continued business operations.
