Patricia Industries, a subsidiary of Investor AB, has signed an agreement with Audax Private Equity to acquire Canadian medical technology company LABORIE. LABORIE specializes in the diagnosis and treatment of urinary and gastrointestinal disorders affecting the daily lives of millions of people. Founded in 1967, LABORIE has grown from a leading urinary power inspection capital equipment manufacturer to an integrated medical device company through endogenous growth and acquisitions, not only in the market for urology, but also in its gastroenterology business. Rapid growth. LABORIE employs an attractive light asset business model with a significant portion of its revenue coming from recurring sales of proprietary consumables. LABORIE's global manufacturing, development and commercialization capabilities provide a solid platform for endogenous growth and expansion in core and adjacent markets and new regions, and further expansion from diagnostics to therapeutics. LABORIE will continue to be operated by the current management team, which will remain part of the company's owner.
LABORIE will be the newest member of Patricia Industries' premium growth portfolio, and other medical companies invested by Patricia Industries include M lnlycke Health Care, Permobil, Aleris and BraunAbility.
In FY2016 (as of March), LABORIE achieved sales of $117 million and was profitable. More financial information about LABORIE, including the purchase price, will be announced after the acquisition is completed.
Investor CEO Johan Forssell said: "LABORIE will make Patricia Industries even more powerful, and we are another step towards continuing to build a wholly-owned subsidiary portfolio in Northern Europe and North America."
The acquisition of LABORIE is the first acquisition of Patricia Industries in Canada since its inception in 2015 and the second acquisition in North America. LABORIE will be a new subsidiary managed by the New York office.
Patricia Industries CEO B? Rje Ekholm said: “LABORIE has successfully developed into a highly acclaimed supplier of quality diagnostic products that can help many people improve their daily lives. Their culture and values ​​fit well with Patricia Industries and Investor. With our medical products and services. With experience and a global network, we believe that Patricia Industries is well prepared to help LABORIE achieve further success in many areas. We look forward to working with LABORIE's management and staff to further enhance the company's position to benefit its customers and employees. And the owner."
Brian Ellacott, President and CEO of LABORIE, said: “We are pleased to work with Patricia Industries to drive the next phase of growth. LABORIE is the global leader in improving the quality of life of patients with urinary and gastrointestinal diseases. This investment will enable us to continue Expand global business and develop and launch innovative new products that improve patient outcomes."
The acquisition is subject to approval by the relevant authorities and is expected to be completed in the third quarter of 2016.
Salted Wakame,Salted Wakame Flakes,Fresh Salted Wakame,Salted Wakame Leaves
DALIAN HAIBAO FOODS CO., LTD. , https://www.haibaoseafoods.com