Olympus Corporation (TSE:7733) signed a definitive agreement to acquire Taewoong Medical Co. Ltd. from Kyong-min Shin and others for $370 million on February 24, 2023. Kyong-min Shin holds 81.0% and others hold 19% stake in Taewoong Medical. Olympus acquiring 177,918 shares for consideration of $370 million of which $255.5 million will be paid at the closing and up to $114.5 million will be paid if future milestones is achieved. The transaction is expected to close on June 30, 2023. Due to the fact that it is expected to take more time than anticipated for the closing conditions to be met, such as obtaining approvals from relevant authorities pursuant to the competition laws and related laws and regulations of Japan and other relevant jurisdictions, Olympus announces that the date of closing of share transfer is expected to occur by the end of March 2024.

Olympus Corporation (TSE:7733) completed the acquisition of Taewoong Medical Co. Ltd. from Kyong-min Shin and others on January 24, 2024. Taewoong Medical will join Olympus? Therapeutic Solutions Division. The transactions closure follows review by the Korean Fair Trade Commission.