Latest news with #OlympusCorporation
National Post
01-07-2025
- Business
- National Post
Wabtec Finalizes Acquisition of Evident's Inspection Technologies Division
Article content PITTSBURGH — Wabtec Corporation (NYSE: WAB) announced today that it completed the acquisition of Evident's Inspection Technologies division (Inspection Technologies), formerly part of the Scientific Solutions Division of Olympus Corporation, a global leader in Non-Destructive Testing, Remote Visual Inspection and Analytical Instruments solutions for mission critical assets. This acquisition strengthens Wabtec's Digital Intelligence business with industry-leading inspection technologies that enhance customer productivity, reliability, and safety, while also positioning the company for accelerated, profitable growth. Article content 'Today, we are a stronger company with the addition of Inspection Technologies,' said Rafael Santana, President and CEO of Wabtec. 'The acquisition expands and strengthens our Digital Intelligence business, with advanced products and services for the Company's rail, mining, and industrial sectors, while broadening our reach into other high-growth, high-margin end-markets. It enhances Wabtec's existing portfolio, is accretive to key financial metrics, and aligns with the company's long-term vision to lead the industry in innovation for our customers.' Article content Article content The strategic acquisition helps accelerate Wabtec's growth trajectory and meets the increasing demand for advanced diagnostic technologies. It also aligns with Wabtec's stated growth drivers, including accelerating the innovation of scalable technologies, increasing the installed base, expanding high-margin recurring revenues, and driving continuous operational improvements. Additionally, acquiring Inspection Technologies expands Wabtec's Digital Intelligence business growth opportunities and recurring revenue, effectively doubling the size of its total addressable market (TAM) from approximately $8 billion to $16 billion, while enhancing its ability to deliver innovative solutions to a broader range of customers. Article content 'Inspection Technologies' product portfolio strongly complements our existing digital technologies, while adding advanced automated inspection capabilities in a space where data acquisition, analytics, and automation are critical,' said Nalin Jain, President of Wabtec's Digital Intelligence Group. 'It will accelerate the development of scalable technologies by integrating advanced analytics, sensors, and AI technology to deliver enhanced predictive maintenance capabilities to our customers. Evident Inspection Technology employees have done a fantastic job in delivering these innovative technologies and I am looking forward to welcoming them to the Wabtec family.' Article content TRANSACTION DETAILS Article content Wabtec acquired Evident's Inspection Technologies division for $1.78 billion (~$1.68 billion after tax benefits). The transaction was financed through a combination of cash on hand, newly issued term notes, plus term loans and short-term borrowing under the Company's credit agreement. The transaction is anticipated to provide immediate shareholder value with a high single-digit revenue growth outlook, accretive Adjusted EBIT margins and accretive return on invested capital (ROIC) over time. Additionally, the acquisition is projected to be slightly accretive to Adjusted EPS in the second half of 2025. The purchase price reflects an estimated multiple of 12.0x projected 2025 EBITDA adjusted for transaction and separation costs, anticipated tax benefits, and projected run-rate cost synergies of $25 million. The Company intends to incorporate the revenue and EPS impact of this acquisition into its Full Year Financial Guidance during its Q2 Earnings call. Article content About Wabtec Corporation Article content Wabtec Corporation is revolutionizing the way the world moves for future generations. The Company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for 155 years and has a vision to achieve a sustainable rail system in the U.S. and worldwide. Visit Wabtec's website at Article content Evident's Inspection Technologies and Microscopy divisions were established in 2022 when Olympus Corporation spun off its Scientific Solutions Division to form a new company. Evident's Inspection Technologies division delivers solutions that solve complex challenges, inspecting mission-critical assets and infrastructure with nondestructive testing, remote visual inspection, and analytical instruments for maintenance, manufacturing, and environmental applications. Visit Evident's website at Article content This press release contains forward-looking statements within the meaning of the U.S. securities laws, including statements regarding the expected benefits of the Inspection Technologies acquisition, the anticipated synergies of the transaction, the expected impact on Wabtec's operational and financial performance, (including business growth opportunities and TAM), and certain projected financial results of Inspection Technologies. These statements and all statements other than historical facts constitute forward-looking statements concerning future circumstances and results and are sometimes identified by the words 'anticipate,' 'estimate,' 'expect,' 'outlook,' 'position,' 'project,' 'recur,' 'strategy,' and 'will' or other similar words or expressions. Forward-looking statements are based upon current plans, assumptions, estimates and expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For more information on these risks, please refer to Wabtec's filings with the SEC. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the transaction; (2) uncertainty of the expected financial performance of Inspection Technologies and the combined company following completion of the transaction; (3) risks associated with the integration of Inspection Technologies and the potential for failure to realize the anticipated benefits and synergies of the transaction; (4) the ability of the combined company to implement its business strategy; (5) inability to retain key personnel; (6) changes in general economic and/or industry specific conditions; and (7) other risk factors as detailed from time to time in Wabtec's reports filed with the Securities and Exchange Commission. The foregoing list of important factors is not exclusive. Article content Article content Article content Article content Contacts Article content Media Contact: Article content Article content Tim Bader Article content Article content 682-319-7925 or Article content
Malaysian Reserve
22-05-2025
- Health
- Malaysian Reserve
AMA Establishes CPT Codes for Minimally Invasive ESD Procedure
CENTER VALLEY, Pa., May 22, 2025 /PRNewswire/ — Olympus Corporation, a global medical technology company committed to making people's lives healthier, safer, and more fulfilling, announced today the American Medical Association (AMA) Current Procedural Terminology (CPT®) Editorial Panel has published its Summary of Panel Actions and has agreed to establish two Category I CPT codes for the Endoscopic Submucosal Dissection (ESD) procedure: one code for the upper GI tract and one code for the lower GI tract.i The final code numbers, code descriptors and fee schedules will be published in November 2026, and the codes are anticipated to become effective January 1, 2027. The dedicated CPT codes for the ESD procedure will allow for more widespread clinical adoption of the procedure and remove barriers to patient access. This will be facilitated through a standardized and streamlined reimbursement process for health care providers and payers. 'We applaud the AMA's decision to establish these new CPT codes, which will help more patients and physicians access the ESD procedure for the minimally invasive treatment of pervasive GI diseases and disorders,' said Paul Skodny, Senior Director for Health Economics and Market Access at Olympus Corporation. 'This positive result is the culmination of much hard work and broad support for creating this reimbursement pathway.' ESD is a minimally invasive, organ-sparing endoscopic procedure used to diagnose and treat cancerous and pre-cancerous neoplasms of the gastrointestinal (GI) tract. Rather than surgically removing whole sections of the GI tract through incisions on the skin, physicians remove tumors through natural orifices, via an endoscope, in one piece. This technique enables accurate staging of these lesions by pathologists, leading to less recurrence rates than other endoscopic Without large incisions or having sections of organs removed, patients experience less pain, faster healing and may not suffer the potential consequences of segmental 'We are thrilled to reach this significant reimbursement milestone for the ESD procedure,' said Mike Callaghan, General Manager for EndoTherapy at Olympus Corporation. 'Olympus has been at the forefront of developing ESD solutions since the procedure was first pioneered by Japanese clinicians working collaboratively with Olympus. This decision by the AMA will facilitate broader adoption of this procedure in the U.S., and it will enhance patient care by providing more patients with access to an advanced and novel treatment option.' Visit the Olympus Americas ESD web page for more information about the ESD procedure: About OlympusAt Olympus, we are committed to Our Purpose of making people's lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. Olympus Corporation of the Americas, a wholly owned subsidiary of Olympus Corporation, is headquartered in Center Valley, Pennsylvania, USA, and employs more than 4,500 employees throughout locations in North and South America. For more information, visit i Summary of Panel Actions. Updated May 16, 2025. Accessed May 20, 2025. Fukami, N. Endoscopic Submucosal Dissection in the Esophagus: Indications, Techniques, and Outcomes, Gastrointestinal Endoscopy Clinics of North America. 2023;33(1);55-66. doi:10.1016/ Abdelfatah MM, Barakat M, Ahmad D, Ibrahim M, Ahmed Y, Kurdi Y, Grimm IS, Othman MO. Long-term outcomes of endoscopic submucosal dissection versus surgery in early gastric cancer: a systematic review and meta-analysis. Eur J Gastroenterol Hepatol. 2019;31(4):418-424. Doi:10.1097/MEG.0000000000001352. PMID: 30694909iv Qian M, Sheng Y, Wu M, Wang S, Zhang K. Comparison between Endoscopic Submucosal Dissection and Surgery in Patients with Early Gastric Cancer. Cancers. 2022; 14(15):3603.
Yahoo
22-05-2025
- Health
- Yahoo
AMA Establishes CPT Codes for Minimally Invasive ESD Procedure
CENTER VALLEY, Pa., May 22, 2025 /PRNewswire/ -- Olympus Corporation, a global medical technology company committed to making people's lives healthier, safer, and more fulfilling, announced today the American Medical Association (AMA) Current Procedural Terminology (CPT®) Editorial Panel has published its Summary of Panel Actions and has agreed to establish two Category I CPT codes for the Endoscopic Submucosal Dissection (ESD) procedure: one code for the upper GI tract and one code for the lower GI tract.i The final code numbers, code descriptors and fee schedules will be published in November 2026, and the codes are anticipated to become effective January 1, 2027. The dedicated CPT codes for the ESD procedure will allow for more widespread clinical adoption of the procedure and remove barriers to patient access. This will be facilitated through a standardized and streamlined reimbursement process for health care providers and payers. "We applaud the AMA's decision to establish these new CPT codes, which will help more patients and physicians access the ESD procedure for the minimally invasive treatment of pervasive GI diseases and disorders," said Paul Skodny, Senior Director for Health Economics and Market Access at Olympus Corporation. "This positive result is the culmination of much hard work and broad support for creating this reimbursement pathway." ESD is a minimally invasive, organ-sparing endoscopic procedure used to diagnose and treat cancerous and pre-cancerous neoplasms of the gastrointestinal (GI) tract. Rather than surgically removing whole sections of the GI tract through incisions on the skin, physicians remove tumors through natural orifices, via an endoscope, in one piece. This technique enables accurate staging of these lesions by pathologists, leading to less recurrence rates than other endoscopic Without large incisions or having sections of organs removed, patients experience less pain, faster healing and may not suffer the potential consequences of segmental "We are thrilled to reach this significant reimbursement milestone for the ESD procedure," said Mike Callaghan, General Manager for EndoTherapy at Olympus Corporation. "Olympus has been at the forefront of developing ESD solutions since the procedure was first pioneered by Japanese clinicians working collaboratively with Olympus. This decision by the AMA will facilitate broader adoption of this procedure in the U.S., and it will enhance patient care by providing more patients with access to an advanced and novel treatment option." Visit the Olympus Americas ESD web page for more information about the ESD procedure: About OlympusAt Olympus, we are committed to Our Purpose of making people's lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. Olympus Corporation of the Americas, a wholly owned subsidiary of Olympus Corporation, is headquartered in Center Valley, Pennsylvania, USA, and employs more than 4,500 employees throughout locations in North and South America. For more information, visit i Summary of Panel Actions. Updated May 16, 2025. Accessed May 20, 2025. Fukami, N. Endoscopic Submucosal Dissection in the Esophagus: Indications, Techniques, and Outcomes, Gastrointestinal Endoscopy Clinics of North America. 2023;33(1);55-66. doi:10.1016/ Abdelfatah MM, Barakat M, Ahmad D, Ibrahim M, Ahmed Y, Kurdi Y, Grimm IS, Othman MO. Long-term outcomes of endoscopic submucosal dissection versus surgery in early gastric cancer: a systematic review and meta-analysis. Eur J Gastroenterol Hepatol. 2019;31(4):418-424. Doi:10.1097/MEG.0000000000001352. PMID: 30694909iv Qian M, Sheng Y, Wu M, Wang S, Zhang K. Comparison between Endoscopic Submucosal Dissection and Surgery in Patients with Early Gastric Cancer. Cancers. 2022; 14(15):3603. View original content to download multimedia: SOURCE Olympus Corporation of the Americas Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
