Evident to be sold to Bain Capital
Olympus is divesting its Evident subsidiary, which provides scientific and industrial solutions. The buyer is the private equity firm Bain Capital. According to the agreement concluded, all shares in Evident will be transferred to Bain Capital on January 4, 2023.
Olympus spun off the Scientifc Solutions business unit with the Life Science and Industry application sectors into the independent subsidiary Evident as early as April 2022. Following the sale of the imaging business, this was a further step towards a pure focus on medical technology. With the sale of Evident, Olympus now intends to expand this business area. The focus is to be on the Endoscopic Solutions and Therapeutic Solutions business units.
Yoshitake Saito, President and Representative Director of Evident, commented on the company's future focus: "Evident will continue under the umbrella of Bain Capital to offer a wide range of innovative products and services to the company's customers around the world. Building on our long experience, we will expand our digital technologies, including cloud-based solutions, to provide added value to our customers, including streamlining workflows in various research and testing areas. With greater autonomy at the management level, we are more likely to be able to implement flexible, open innovation to increase the speed of product development, enabling us to find solutions to our customers' challenges faster."
"Bain Capital is able to provide Evident with the environment that is most conducive to the company's unique characteristics in order to sustainably maximize shareholder value. I firmly believe that Bain Capital is the best partner for Evident," said Yasuo Takeuchi, President and CEO of Olympus.
About Evident
Evident, the subsidiary of Olympus' former Scientific Solutions Business, is headquartered in Tokyo, Japan, and employs approximately 4,000 people. The company is active in life science and industrial applications. Microscopes in the life science sector support a wide range of academic and clinical research areas, pathological diagnostics, and the recent booming demand for new drugs and fertility treatments.
Evident's solutions for industry range from microscopes for the ever-growing semiconductor and electronic component markets to industrial videoscopes and fiber optic endoscopes, non-destructive testing equipment and XRF analyzers. Products are used in the automotive, aerospace and metalworking industries, power generation, precious metals processing and numerous manufacturing and quality inspection applications.
