Toronto-based Laborie Medical Technologies Inc. has received an undisclosed amount of financing from Audax Group, the company announced Friday. Laborie is a provider of urodynamic testing equipment and consumables for urinary incontinence. Terms of the deal were not released.
Audax Group announced it has completed an investment in Laborie Medical Technologies, Inc. (“Laborie”). Headquartered in Toronto, Ontario, Laborie is a leading global provider of urodynamic testing equipment and consumables for urinary incontinence. Laborie supplies physician offices, hospitals, and mobile providers on six continents. With Audax’ investment, Laborie intends to pursue organic growth opportunities and acquisitions to further its position as a leader in global pelvic health.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said “Laborie is a leading medical diagnostics and consumables business with exceptional brand recognition. We look forward to working with Rob Laborie and his management team to build the company through acquisitions and product line expansion.”
Rob Laborie, CEO of Laborie, said “Audax Group is an ideal partner as we embark on our next stage of growth. Their operational expertise and successful track record working with medical device companies will be key resources for us as we continue to build our business.”
Oliver, Lipman & Associates advised Laborie. Kirkland & Ellis LLP and Stikeman Elliott LLP served as counsel to Audax Group. Bank of Montreal provided financing to support the investment.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $4 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt funds. For more information visit the Audax Group website www.audaxgroup.com.