Terumo Corporation is founded in 1921 as Sekisen Ken-onki Corporation by a group of medical scientists led by Dr. Kitasato Shibasaburō to produce medical thermometers in Japan. The company's first product was "Jintan Taionkei", the first Japanese-made thermometer available for sale, and it has since expanded into a medical devices manufacturer, producing medical disposables, cardiovascular systems and diabetes care products. In 1971, Terumo opened its first overseas office in the United States. Since then, the company has established subsidiaries in Europe, South America, China, India, Philippines, Vietnam, Thailand and Australia. The company later expanded its product range to include coronary stents and catheters, and acquired, among others, the cardiovascular specialty companies Vascutek and Microvention in 2002 and 2006 respectively.
Business segments and products
Terumo Corporation operates through three business segments:
Terumo Penpol, the company's subsidiary in Trivandrum, India is the largest manufacturer of blood bags in India and supplies it to over 82 countries. Production of medical disposables is also conducted in the company's facilities in Thailand and Hangzhou, China. A medical device facility called Terumo BCT is located in Denver suburb of Lakewood, Colorado, and, has been open and operating for over 20 years. A 2018 investigation into the release of ethylene oxide—a sterilizing agent for the blood diagnostic and treatment devices—into the atmosphere showed no increased cancer risk for those in the neighborhood, and the EPA will continue to allow up to of ethylene oxide to be released annually. However, Terumo said they release only per year and are working to reduce that amount.
Acquisitions
In July 1999 Terumo acquired the cardiovascular division of 3M Company, and established Terumo Cardiovascular Systems Corp. in the USA. In 2001 the company made two more acquisitions: it acquired the home oxygen division of Sumitomo Bakelite Co., Ltd., and establish Terumo Medical Care K.K., and Ikiken Co., Ltd. of Japan. In 2002 the company enters into the vascular prostheses business by acquiring UK-based Vascutek Ltd. Four years later, in 2006 the company ventured into a new field by buying American company MicroVention Inc. The tissue heart valve division of Kohler Chemine GmbH was acquired in March 2007 and expanded Terumo's operations related to vascular prostheses. A year later the Japanese company Clinical Supply Co., Ltd. became a Terumo subsidiary and enhanced Terumo's interventional systems business in the field of radiotherapy. In March 2011, the company bought U.S. medical device company CaridianBCT for around $2.6 billion. It was the largest acquisition by a Japanese medical equipment maker at the time. The same year Harvest Technologies Corporation—a leader in the development of point-of-care cell therapy—and Onset Medical Corp.—a leader in innovative sheath technology designed for multiple, minimally invasive clinical applications—was acquired.
