Olympus Agrees to Buy Prostate Spacer Maker BioProtect for $270 Million

Olympus has signed a definitive agreement to acquire BioProtect, an Israeli maker of a biodegradable balloon implant used during prostate cancer radiation therapy, for $270 million, the Tokyo-based company said on May 26. Certain amounts will be held in escrow for a period that depends on uninterrupted operation of the business.

The deal is expected to be completed by the end of the second quarter of calendar 2026, subject to customary closing conditions. BioProtect, founded in 2004, had revenue of approximately $14.5 million in 2025 and has 130 employees.

The Balloon Spacer

BioProtect's flagship Balloon Spacer is designed to keep consistent space between the prostate and other critical structures, protecting healthy tissue during prostate cancer radiation. The implant biodegrades after treatment. Olympus said it has been used in more than 11,000 procedures worldwide since its commercial introduction in 2023.

The balloon is placed uninflated and then filled with a biodegradable gel, moving sensitive organs away from the prostate, Globes reported. BioProtect's revenue was $8 million in 2024 before rising to $14.5 million in 2025, according to the Israeli business daily.

Olympus said the acquisition fits its strategic pillar of "Innovation-driven Growth" and expands its portfolio in areas adjacent to endoscopy, including the gastrointestinal and urological fields.

"BioProtect brings a highly differentiated solution to prostate cancer care, with a compelling clinical value proposition and early commercial success," said Seiji Kuramoto, executive officer and head of the Surgical and Interventional Solutions Division at Olympus.

A late entrant in spacers

BioProtect CEO Itay Barnea told Globes that two rivals reached the market first and were bought by larger companies, one by Boston Scientific in 2018 and one by Teleflex in 2023. He said those companies make injectable gels rather than a balloon. "Ultimately, our product came to the market after the other companies had already created the interest and also obtained insurance indemnity codes for products in this category," Barnea said.

The $270 million price is higher than the $200 million figure reported to the Tel Aviv Stock Exchange in January by Almeda Ventures, which owns 4% of BioProtect, Globes reported. At that time Almeda said BioProtect had signed a memorandum of understanding to be acquired by an unnamed investor. Other investors include TriVentures and the Israel Innovation Authority, according to the paper.

Globes said Olympus intends to keep all of BioProtect's operations, including production in Netanya. Barnea, who previously ran OrthoSpace, a BioProtect spin-off that Stryker bought in 2019, said part of his role will be to support Olympus in a global launch of the product.

The deal follows a reorganization of Olympus's global endoscopy business announced in late 2025 that included the elimination of about 2,000 jobs, MedTech Dive reported.