|[October 31, 2013]
HOYA Group to Set up a Joint Venture with Wassenburg Medical Devices in the Field of Endoscopy
TOKYO --(Business Wire)--
HOYA (TOKYO:7741) today announced that it has signed an agreement to
acquire a majority shareholding in Wassenburg Group, an Automated
Endoscope Reprocessing (AER) market leader in the Netherlands. The
planned closing date is November 1, 2013.
This strategic acquisition enables HOYA through its division PENTAX
Medical to give its global customers complete access to a superior and
wider portfolio in the field of flexible endoscopy from Endoscopes to
AERs. The same synergies will also be driven by Wassenburg as the
respective installed base customers and new customers will have a wider
portfolio to benefit from.
Flexible endoscopy is approximately a $2.5B market globally and growing
at an average 8 - 10% annually. The AER market is approximately a $1.0B
market globally and growing at 10% - 12% annually. With this joint
venture HOYA will now have access to a $3.5B market globally and also
heralds a shift from a capital equipment company to enter the segment of
The growth of the endoscopy market is driven by changing demographics,
new minimally invasive procedures, new diagnostic technologies and new
therapeutic endoscopic procedures which are increasing the number of
endoscopy procedures. At the same time every endoscope after clinical
use must be decontaminated with the same degree of rigor following every
endoscopic procedure to prevent cross-contamination of patients. This
underscores the importance of endoscope reprocessing and following
disinfection guidelines to attain best practice and improve patient
care. The trend in the market is the shift from manual to standardized
automated reprocessing of endoscopes and presents a great growth
This joint venture is about product synergies, channel synergies and
geographic expansion. Wassenburg Medical Devices has direct operations
and significant presence in western European countries with their
leading edge AERs. Through this strategic alliance with HOYA they will
now have a platform for entry in the world's largest Endoscopy market,
the USA and also into the emerging markets of Asia Pacific, Latin
America, Eastern Europe and Middle East Africa. This strategic deal not
only widens the portfolio for the HOYA customers but also offers a
platform for growth into new markets and new segments.
"This is a great match for us and a significant step forward for our
global endoscopy strategy," said Jayant Saha, Senior Vice President,
Global BD, PENTAX Medical, HOYA Group. "Wassenburg is a fantastic
company. Their management have done a great job building the company and
we look forward to taking advantage of the strengths of our combined
companies as we expand the product offerings globally into existing and
The transaction will involve the purchase of more than 50 percent of the
shares of Wassenburg Group. The share acquisition is the latest step in
HOYA's plan to gain share in all markets globally and the widening of
the product portfolio positions HOYA to capture market share everywhere.
"Instilling greater clinical confidence by delivering high performance,
reliability and value to our customers is at the core of everything we
do," said Ganesh Ramaswamy, Global President, PENTAX Medical. "Now
PENTAX Medical along with Wassenburg look forward to offering seamless
product offerings in the field of Endoscopy to our customers."
"We have built Wassenburg into the number one AER company in the
Netherlands." said Arno Wassenburg, MD of Wassenburg Medical Devices BV.
"This is a wonderful next step for our business, our customers and
shareholders. Our customers will gain tremendous value from the ability
to access a total endoscopy portfolio that this deal ensures."
"Wassenburg has found the best possible partner in HOYA" said Ronald
Wassenburg, MD of Wassenburg Medical Devices BV. "It's been a privilege
to help build Wassenburg, now we will grow our global presence and
market share even more by leveraging the global strength of HOYA."
"Any time two leadership companies like HOYA and Wassenburg pair
together to offer a technologically superior and wider portfolio, the
customer benefits," said Girts Cimermans, COO, HOYA Lifecare. "Our
strategic joint venture will bring new synergies in the market and
benefit both companies' leadership products."
HOYA is a global med-tech company established in Tokyo, Japan, and the
leading supplier of innovative and indispensable high-tech products
based on its advanced optics technologies.
HOYA is active in two main business segments: The Life Care providing
indispensable products to improve people´s QOL such as eyeglasses,
medical endoscopes and intraocular lenses, and the Information
Technology providing key components and imaging products for the
semiconductor devices, PCs, and mobile devices. Hoya employs over 30,000
people in more than 30 countries.
ABOUT WASSENBURG MEDICAL DEVICES B.V.
Wassenburg Medical Devices B.V. is a leading international company based
in the Netherlands and specializing in the development and manufacture
of innovative high-level washer disinfectors and drying/conditioning
cabinets for flexible endoscopes. The company was established in 1984
and has developed into a highly-qualified specialist in all aspects of
automated endoscope reprocessing. With head offices and manufacturing
premises in the Netherlands and Vietnam, offices in the United Kingdom,
Ireland, Belgium and France, the full product range is distributed
through an exclusive distribution network in Europe, the Middle East,
Africa and the Asia Pacific region.
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