# Olympus to acquire Taewoong Medical for up to $370M

Olympus Corporation agreed to acquire Taewoong Medical Co., Ltd., a Korean manufacturer of gastrointestinal metallic stents, for approximately $370 million in cash, with $255.5 million paid at closing and up to $114.5 million in milestone payments. The transaction is expected to close on June 30, 2023.

- Type: Acquisition
- Announced: 2023-02-24
- Where: South Korea
- Value: $370.0M
- Status: announced
- Products: gastrointestinal metallic stents
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md)

## Companies

- [Olympus](https://endata.com/companies/30528.md) (acquirer)
- [Taewoong Medical Co., Ltd.](https://endata.com/companies/68772.md) (target)

## Sources

- [olympus-global.com](https://www.olympus-global.com/news/2023/nr02476.html), 2023-02-24: "Olympus Corporation has agreed to acquire Taewoong Medical Co., Ltd, a Korea-based manufacturer of medical devices such as gastrointestinal metallic stents to strengthen its GI EndoTherapy product portfolio capabilities."
- [koreatimes.co.kr](https://www.koreatimes.co.kr/business/companies/20230306/olympus-to-acquire-korean-gastrointestinal-stent-firm-taewoong-medical), 2023-03-06: "Olympus Corp. ... has agreed to acquire Taewoong Medical, a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents to strengthen its product portfolio capabilities."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.