Olympus Corp. buys Spirus Medical, merge technologies.
The acquisition prompted the formation of a new company, Spirus Medical LLC, to continue distributing orders of endoscope insertion devices such as EndoEase Discovery SB and Endo-Ease Vista Retrograde over-tubes to existing customers until inventory is emptied. Inventory includes medical devices that aid endoscope insertion in upper and lower endoscopy, including a powered spiral device that uses a motor to aid endoscope insertion, as well as urologic and gynecologic devices. The company will operate as a wholly-owned subsidiary of Gyms ACMI Inc., a U.S.-based subsidiary of Olympus.
Spirus is one of at least five start-ups spun off from Stoughton, Mass.-based STD Med Inc. in the past 10 years. Spirus previously received financial backing from Cambridge's Bioventures Investors, Point Judith Capital and Village Ventures--all participated in 2007's Series B funding round.
Olympus plans to create new endoscopic systems that merge Olympus and Spirus technology.