The combined product pipeline is expected to enable the companies to reach a wide customer base
Laborie Medical Technologies has agreed to acquire GI Supply, a provider of endoscopy and paracentesis products, for an undisclosed amount.
The diagnostic and therapeutic medical technology company is acquiring the company, in partnership with Signet Healthcare Partners, a growth equity firm focused on healthcare investments.
The transaction is expected to be completed following approval from regulatory authorities.
Laborie president and CEO Michael Frazzette said: “At LABORIE, we are committed to helping improve lives by enabling our clinical customers and their patients with relevant solutions for their needs. We do this organically as well as through strategic acquisitions.
“With the acquisition of GI Supply, we immediately enhance LABORIE’s gastroenterology product offering and sales channel in the U.S. and internationally. This is an important step in the evolution of our GI business.”
GI Supply and Laborie to operate independently
GI Supply and Laborie are expected to operate independently, while GI Supply is expected to continue operations under the leadership of Kristi Dahlke as CEO, and its existing management team.
The combined product pipeline and commercial capabilities of GI Supply and Laborie is expected to strengthen both the organisations to reach a wide customer base and provide healthcare practitioners with a portfolio of products that address prevalent medical issues.
As part of the transaction, Signet Healthcare Partners managing director Ashley Friedman is expected to be appointed as a member of GI Supply board of directors.
GI Supply CEO Kristi Dahlke said: “GI Supply was founded on the desire to improve physician efficiency and patient satisfaction. This acquisition will further enhance our commitment to healthcare practitioners around the world by increasing the scope of our product portfolio. We are excited about what the future holds.”
In February, Laborie completed the acquisition of Clinical Innovations for an enterprise value of $525m.