USA – 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. 07/09/2023
