Olympus to Acquire BioProtect to Expand Its Portfolio of Urological Technologies and Address Prostate Cancer

Olympus Corporation has announced a definitive agreement to acquire BioProtect Ltd., a medical device manufacturer focused on advancing cancer care through innovative spacing solutions. This acquisition, valued at $270 million, is part of Olympus' strategy to enhance its contributions to oncology and urology. The deal, which is subject to customary closing conditions, is anticipated to be finalized by the end of the second quarter of calendar year 2026.

BioProtect specializes in implant technologies designed to improve prostate cancer care. Its flagship product, the Balloon Spacer, creates consistent spacing between the prostate and surrounding critical structures during radiation therapy, thereby protecting healthy tissues. The Balloon Spacer, which biodegrades naturally after use, was commercially introduced in 2023 and has since been utilized in over 11,000 procedures globally. Studies have indicated its positive impact on preserving gastrointestinal, urinary, and sexual functions for patients.

This acquisition aligns with Olympus’ strategic goal of innovation-driven growth as a MedTech leader. Prostate cancer is the second most diagnosed cancer among men worldwide, with approximately 1.5 million new cases each year. The global market for rectal spacers is expected to grow significantly over the next decade. The integration of BioProtect's offerings will enable Olympus to broaden its portfolio in related therapeutic areas, particularly in gastrointestinal and urological fields.

Seiji Kuramoto, Executive Officer and Head of Surgical and Interventional Solutions Division at Olympus, expressed enthusiasm for the acquisition, highlighting BioProtect's differentiated solutions in prostate cancer care and the potential for enhanced patient outcomes. Itay Barnea, Chief Executive Officer of BioProtect, also shared excitement about joining Olympus, noting the opportunity to integrate their technology and expand access to high-quality care for prostate cancer patients.

BioProtect, established in 2004 and headquartered in Israel, focuses on empowering healthcare providers with innovative biodegradable products that elevate prostate cancer care. The company reported approximately $14.5 million in revenue in 2025 and employs 130 staff members.