Kit media
Olympus Corporation ("Olympus") and Evident Co., Ltd. ("Evident"), a wholly-owned subsidiary of Olympus, announced today that Olympus has entered into a definitive agreement with Bain Capital Private Equity, LP ("Bain Capital"), regarding the transfer of Evident.
Based on this agreement, all evident shares will be transferred to Bain Capital on January 4, 2023, subject to regulatory approvals and closing conditions.
To achieve sustainable growth as a global medical technology company, Olympus strives to strengthen its foundations by allocating resources to the medical business, with a focus on endoscopic solutions and therapeutic solutions.
Olympus' Scientific Solutions business was transferred to Evident in April 2022; This decision was made to accelerate growth, improve profitability and contribute to the improvement of Olympus' overall enterprise value by establishing management systems that match the characteristics of each business in the areas of medical and scientific solutions.
Evident operates in the fields of life and scientific and industrial applications. These areas are underpinned by deep roots and strong global market demand. Microscopes used for life sciences cover a wide range of areas of academic and clinical research, diagnostic services, pathology as well as the recent growing demand for drug discovery and fertility treatment. Evident's industrial solutions offer a range of microscopes used in the expanding semiconductor and electronics industry, ranging from component markets to industrial video and fibroscopes, non-destructive testing, X-ray fluorescence equipment and analyzers used in industrial applications. This wide range of applications includes automotive, aviation, metal manufacturing, power generation, precious metals, and several other manufacturing and inspection markets.
In light of this favorable market environment, Olympus concluded that it would be in its best interest to transfer all of Evident's shares to Bain Capital in order to enable Evident to grow its business through more agile and flexible decision-making based on market needs, leading to further growth as well as developing more innovative solutions for its clients.
" Bain Capital has a deep understanding of Evident's business value and growth potential. They particularly appreciate Evident's corporate culture, which has been a valuable asset to Olympus in satisfying a wide range of customers around the world, through collaboration and proactive commercialization of cutting-edge technologies ," said Yasuo Takeuchi, President and Executive Director of Olympus Corporation. "They are able to provide a business environment best suited to its characteristics that can sustainably maximize its corporate value. I am convinced that Bain Capital is the best partner for Evident ," added Mr. Takeuchi.
Yoshitake Saito, President and Managing Director of Evident, commented on the company's new goal: "Evident will continue under bain Capital's umbrella to provide its customers with a wide range of innovative products and services around the world. Based on our long-standing expertise, we will expand our digital technologies, including cloud-based solutions, to improve the customer experience and our overall process across multiple research and inspection areas. With greater management autonomy, we will foster agile and open innovation, which will increase the speed of product development to solve our customers' challenges."
Olympus will continue to support Evident in the transfer of the business. In the future, Olympus will focus on the medical field, in its ongoing efforts to make people a healthier, safer and more fulfilling life.
Evident, guided by the scientific spirit and focus on innovation, will continue to provide and expand its life sciences services and solutions with its scientific and industrial applications.
