Japanese devicemaker Olympus has reached a deal to acquire Veran Medical, a developer of interventional pulmonology devices, for up to $340 million to expand its presence in the field of respiratory devices.

“Olympus’ endoscope technologies will combine perfectly with Veran’s navigation products to develop solutions for improved diagnosis of peripheral lung cancer,” Olympus said.

The company noted the importance of acquiring Veran’s advanced electromagnetic navigation system that is used to visualize and access lesions in the lung’s peripheral regions.