Olympus Embraces M&A to Fuel Growth

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ARTICLE SUMMARY:

Like virtually all medtech companies, Olympus was hit hard by the pandemic, but it spent the year shoring up its various businesses through cost-cutting measures and, perhaps more importantly, a string of acquisitions—four in total—uncharacteristic of its historic approach to growth.

Like just about every other medical device multinational whose revenues rely heavily on elective procedures, last year was a challenging one for Olympus Corp. Revenues in the second quarter, in particular, were badly hit by the COVID pandemic. But while other companies hunkered down and waited for a rebound—one that thankfully came sooner than might have been expected given the pervasive and persistent spread of the virus—Olympus did something that was not only unusual among major medtech companies, but also somewhat uncharacteristic for the company itself. It went on a buying spree of sorts, seeking to build on what is already a global-leading franchise in endoscopy and related technologies.

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