Established in 1967, Laborie is engaged in the development and manufacturing of products for the treatment of urologic and gastrointestinal disorders.
The company produces and supplies pelvic health and gastrointestinal equipment and consumables.
Laborie generated sales of around $117m in the last fiscal year ended in March.
Subject to approval by the relevant competition authorities, the deal is expected to complete in the third quarter of this year.
Once the deal concludes, Patricia will manage the operations of Laboris from the New York office.
Patricia’s other healthcare firms include Mölnlycke Health Care, Permobil, Aleris and BraunAbility
Patricia Industries CEO Börje Ekholm said: "Laborie has successfully developed into a high-quality and highly regarded provider of diagnostics products that help a vast number of people improve their daily lives, and its culture and values fit very well with those of Patricia Industries and Investor.
“Drawing from our experience and global network within healthcare products and services, we believe that Patricia Industries is well-positioned to support LABORIE in its continued progress in a number of areas.”
Laborie president and CEO Brian Ellacott said: “Laborie is the global leader in improving quality of life for patients suffering from urologic and gastroenterology disorders.
“This investment will allow us to continue to expand our global footprint as well as develop and bring to market innovative new products that will improve outcomes for patients."
Image: Patricia to acquire medical technology firm Laborie from Audax. Photo: courtesy of Pink Blue / FreeDigitalPhotos.net.
