Olympus-Norwalk to be sold

Olympus Corporation President and CEO: Yasuo Takeuchi recently concluded an agreement with Nissha Co. Ltd. President and CEO Junya Suzuki on the transfer of the Norwalk facility to Nissha Medical Technologies (New York; NMT), a wholly-owned subsidiary of Nissha. The Norwalk facility is one of the manufacturing sites for therapeutic devices in US under Olympus Surgical Technologies America (Massachusetts; OSTA). Under the contract, the transfer of the facility to NMT is scheduled to be completed by the end of December. Production of the medical devices for urology and gynecology and components for therapeutic medical devices will remain at the Norwalk facility. Employees will become members of NMT. Olympus is moving forward with Transform Olympus, a multi-tiered plan aimed at making changes for sustained growth as global medtech company. This transfer concerning its manufacturing functions is part of the overall efforts to optimize our global organizational structure. Moving forward, Olympus will partner with NMT, whose strengths lie in contract design and manufacturing of medical devices, as we undertake to provide high-quality products that meet the needs of our customers. Overview of the Norwalk Facility and NMT: OSTA Norwalk facility • Address: 93 N. Pleasant Street, Norwalk, Ohio 44857• Facility Manager: Michael Bailey• Employees: 111 (as of April, 2020)• Manufacturing of rigid endoscopes for urology and gynecology, and therapeutic medical device components Nissha Medical Technologies• Headquarters: 400 Exchange Street, Buffalo, N.Y. 14204• Representative: Sam Heleba• Employees: 1,110 (as of June, 2020)• Contract design and manufacturing for medical device manufacturers, manufacturing and notice regarding the transfer the Olympus Facility in Norwalk, Ohio, U.S. sales of proprietary brand products for medical institutions