Laborie Medical Technologies, a Portsmouth, NH-based diagnostic and therapeutic medical technology company, acquired Urotronic, a Plymouth, MN-based medical device company, for up to $600M.
Under the terms of the agreement, the transaction consists of an upfront cash payment of $255M, and up to an additional $345M in potential commercial and reimbursement milestone payments. Net of Laborie’s existing minority investment in Urotronic, the net upfront cash payment will be $232M with net potential milestone payments of up to $314M.
The acquisition expands Laborie’s urology portfolio and demonstrates the company’s commitment to providing proven, innovative solutions to physicians and patients globally.
In conjunction with the Urotronic acquisition, Laborie will also make a $5m strategic equity investment into GIE Medical, a clinical stage company spun out of Urotronic which is developing drug-coated balloon technology for treatment of strictures within the gastrointestinal tract which could, like Optilume urethral strictures, offer a differentiated solution for treatment of these conditions.
Led by David Perry, President and CEO, Urotronic is a medical device company currently conducting clinical trials to support global commercialization of their products. The Optilume® drug-coated balloon technology provides a minimally invasive treatment option for men suffering from urinary tract conditions like urethral strictures and benign prostatic hyperplasia (BPH). The technology creates a change from the methods currently used by urologists to treat these conditions.
Led by Mike Frazzette, President, and CEO, Laborie is a medical technology company focused on Urology, Urogynecology, Gastroenterology, Obstetrics, Gynecology & Neonatal Health. It manufactures and delivers diagnostic and therapeutic products that help clinicians and hospitals preserve and restore patient dignity. It is a portfolio company of Patricia Industries.
FinSMEs
07/09/2023