Bain Capital has acquired Evident, the former scientific solutions division of Olympus, after receiving regulatory approval in Japan and other jurisdictions, the private equity firm announced Monday.
Olympus agreed in August 2022 to sell the microscope unit to Bain for 427.6 billion yen ($3.1 billion) to focus on its medical business, particularly endoscopes, and capitalize on the shift to disposable endoscopes and to grow sales of therapeutic gastrointestinal, urology and respiratory devices.
Evident manufactures a range of microscopes for pathology, hematology, IVF and other clinical applications, as well as for research and education. The life sciences business was established as a subsidiary of Olympus in April 2022.
“In partnership with Bain Capital, we will further advance our goal to expand our position as a leading workflow solution provider in life science and industrial markets. We are convinced that this collaboration will strengthen us in serving our customers with world-class products and services,” Evident CEO Yoshitake Saito said in a statement.
The Tokyo-based business has more than 4,300 employees worldwide.
“We are committed to working with the management team to realize attractive growth opportunities in product innovation and expansion into new global markets, in order to create value for all stakeholders,” Yuji Sugimoto, Bain Capital Japan partner, said in a statement.
