Leading diagnostic and therapeutic medical technology company, Laborie Medical Technologies Corp. announced that it has completed the acquisition of GI Supply, a leader in specialty endoscopy and paracentesis products for gastroenterologists, colorectal surgeons, and interventional radiologists.
As part of the transaction, GI Supply and all its employees will be fully integrated into the Laborie business. "We've had the opportunity to work closely with the GI Supply team for two years and are delighted to welcome them into the Laborie family," said Michael Frazzette, President & CEO of Laborie Medical Technologies. "We look forward to working together in our mission to deliver innovative technologies that help preserve and restore human dignity. Gastroenterology will continue to be a core segment for Laborie and legacy GI Supply will lead our effort."
In 2020, Laborie and Signet Healthcare Partners, a healthcare growth equity firm, signed an agreement to acquire GI Supply. The combined GI Supply and Laborie product portfolio and commercial capabilities enabled the organizations to reach a larger customer base and offer healthcare practitioners a broad portfolio of innovative gastroenterology products.
"We are delighted with the growth and progress of GI Supply over the past several years. We thank Patricia Industries and Laborie for their partnership in helping to develop this business. The future is very bright for GI Supply as part of Laborie."
Ashley Friedman, Managing Director at Signet Healthcare Partners
Yuriy Prilutskiy, Head of North America at Patricia Industries, a part of Investor AB and majority owner of Laborie Medical Technologies added, "Patricia Industries is excited to continue investing in Laborie's long-term growth with this acquisition. We continue to support Laborie in its mission to provide patients and healthcare professionals with innovative and effective therapeutic and diagnostic technologies that preserve and restore human dignity."
About Laborie Medical Technologies
Headquartered in Portsmouth, New Hampshire, Laborie is a global medical technology company focused on Urology, Urogynecology, Gastroenterology, Obstetrics, Gynecology & Neonatal Health. We manufacture and deliver high-quality, high-impact diagnostic and therapeutic products that help clinicians and hospitals preserve and restore patient dignity. Clinicians and hospitals look to us as the market-leading experts in our business segments, and we support our products with a world-class Clinical Education & Information program. Laborie is a portfolio company of Patricia Industries.
About GI Supply
As a physician-founded company, we strive for deep clinical input into all that we do. GI Supply is broadening its portfolio with solutions that allow physicians to perform more-advanced procedures safely and efficiently. We help doctors do their jobs faster, safer and simpler.
About Patricia Industries
Patricia Industries, a part of Investor AB, invests in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. We invest with an indefinite holding period and partner with great management teams to create value for people and society by building strong and sustainable businesses.
About Investor AB
Investor, founded by the Wallenberg family in 1916, is an engaged owner of high-quality, global companies. We have a long-term investment perspective. Through our board participation, industrial experience, global network and financial strength, we work continuously to support our companies to remain or become best-in-class.
About Signet Healthcare Partners
Signet Healthcare Partners is an established provider of growth capital to innovative healthcare companies. Signet invests in commercial-stage healthcare companies that are revenue generating or preparing for commercial launch. The firm invests primarily in pharmaceutical and medical device companies. As an active investor, Signet partners closely with its companies to build their value including facilitating activities between portfolio companies. During Signet's 24-year history, the firm has developed a strong reputation and track record of successful healthcare investments. Signet has raised funds with total capital commitments of over $500 million and has invested in more than 55 companies.