Spirus Medical acquired by Tokyo firm
Spirus Medical Inc., a medical device company in West Bridgewater, has been sold to Tokyo-based Olympus Corp. as of July 1, the company announced on its website.
The acquisition has prompted the formation of a new company, Spirus Medical LLC, to continue distributing orders of its endoscope insertion devices – Endo-Ease Discovery SB and Endo-Ease Vista Retrograde over-tubes – only to existing customers until the company empties its inventory. The company will operate as a wholly-owned subsidiary of Gyrus ACMI Inc., a U.S.-based subsidiary of Olympus, according to a Spirus letter to its customers.
Spirus’ technology consists of medical devices that help with endoscope insertion in upper and lower endoscopy, including a powered spiral device that uses a motor to aid endoscope insertion. The company, founded in 2005, has also found its devices can help aid access in the fields of urology and gynecology, Spirus said in a news release.
Spirus had been backed by Cambridge’s BioVentures Investors, Point Judith Capital of Providence, R.I., and Williamstown’s Village Ventures – all of which participated in an $8.5 million Series B funding round in 2007.
Olympus develops medical and surgical products, life science imaging systems, industrial measurement and imaging instruments and cameras and audio equipment, the company noted on its website. With the acquisition of Spirus, Olympus officials plan to create new endoscopic systems that merge Olympus and Spirus technology.