Olympus 2008 Annual Report Download - page 11

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SPECIAL FEATURE
Toward Medical Systems Business Growth:
Surgical Business Enhanced
by Acquisition of Gyrus
1.
Olympus acquired the UK-based medical
equipment company Gyrus Group PLC in
February 2008. Please tell us more about Gyrus.
> With approximately 1,400 employees spread over 13
worldwide locations, Gyrus was
a UK-based medical equipment
company listed on the London
Stock Exchange. Its consolidated
net sales were £220 million (approximately ¥47 billion*)
as of the fiscal year ended December 31, 2007. Since
its inauguration in 1989, Gyrus has been supplying
electrosurgical knives for urological and gynecological
use, while expanding its business scale by acquiring
various companies in the field of minimally invasive
medical procedure. Among them, the 2005 acquisition
of American Cystoscope Makers, Inc. (ACMI), a well-
established U.S. endoscope company, granted Gyrus the
imaging technology to further expand its business. With
its Gyrus ACMI brand maintaining a dominant position
in the North American market, Gyrus also possesses a
number of products and technologies that are attractive
to Olympus.
In November 2007, Olympus and Gyrus agreed on a
friendly acquisition. The two companies completed the
procedures necessary to include Gyrus in Olympus’ scope
of consolidation in February 2008.
*£1= ¥215
2.
Please tell us the background
to the acquisition.
> In accordance with the 2006 Corporate Strategic Plan,
which was established and released as the Olympus
Group’s medium-term management strategy, we have
been conducting a variety of measures with the aim of
Haruhito Morishima,
President, Olympus Medical Systems Corp.
OLYMPUS 2008 9