From the January/February 2022 issue of HealthCare Business News magazine
Unlike all other available treatment options, no heat or permanent implant is used with the iTind procedure, so there is typically no need to leave a Foley catheter in the urethra following the procedure. In addition, iTind has a short learning curve, requires no new capital investment and no general anesthesia.
The treatment can be performed by a urologist in an outpatient hospital, ambulatory surgery center or a physician’s office. Such procedures are expected to become more frequent because the disease is predicted to be seen more as the general population continues to age. Nearly 80% of men are predicted to be diagnosed with it in their lifetime, especially in older ages, according to the American Urological Association.
“We believe Olympus appreciates our focus on long-term clinical results and dedication of the entire Medi-Tate team,” said Ido Kilemnik, chief executive officer of Medi-Tate. “We are pleased to be joining Olympus, which shares our vision of making iTind the global standard for BPH treatment.”
Plans for the acquisition were based on a definitive agreement drawn up in 2018 where Olympus acquired a 17% minority stake in Medi-Tate with an option to buy the remaining shares of the company.
iTind is also for sale in the U.K., Israel, Australia and Brazil.
Private-equity group reaches deal to acquire Medline for $30 billion
Investment firms Blackstone, Carlyle, and Hellman & Friedman partnered together to fund a majority investment in healthcare supply manufacturer and distributor Medline Industries in June.
While the exact amount was not disclosed, it is believed to be more than $30 billion, making it one of the largest leveraged buyouts since the financial crisis, according to The Wall Street Journal.
Medline earned $17.5 billion in revenue in 2020 and plans to use funding from the investment to extend its product portfolio and expand internationally, as well as make new infrastructure investments to build up its global supply chain. "Making healthcare run better has been our focus for decades. This investment from some of the world's most experienced and successful private investment firms will enable us to accelerate that strategy while preserving the family-led culture that is core to our success," said Charlie Mills, chief executive officer of Medline, in a statement.
The three were reported to have beat out a rival bid from the private-equity arm of the Canadian investing firm Brookfield Asset Management Inc. The transaction is valued at $34 billion, including debt, and is more than $30 billion, excluding borrowings. This could make it potentially the largest healthcare LBO ever, reports The Wall Street Journal.
