Audax Private Equity, together with its co-investors and management, has completed the sale of Laborie Medical Technologies to Patricia Industries, a part of Investor AB.
Headquartered in Mississauga, Ontario, Laborie Medical Technologies is a provider of medical devices for urological, pelvic health, and gastrointestinal applications.
The company’s products are used in the diagnosis and treatment of urinary incontinence and other urological and GI conditions. Laborie supplies physician offices, hospitals, and mobile providers on six continents.
Since Audax’ initial investment in 2012, Laborie has completed 14 acquisitions to expand product lines and enter international markets.
Young Lee, managing director of Audax Group, says: “Under Audax’ ownership, Laborie transformed from a manufacturer of capital equipment for urodynamic testing into a fully-integrated medical device company with a market-leading position in urology and a rapidly growing gastroenterology business. We are proud of the shared accomplishment and wish Laborie continued success with its new partner.”
Jefferies and Harris Williams served as exclusive financial advisers to Laborie and Audax. Kirkland & Ellis and Stikeman Elliott served as legal advisers to Laborie and Audax.