Toronto-based Laborie Medical Technologies Inc, a portfolio company of Audax Group, said Tuesday that it has completed its buy of UroMed Technology Inc. No financial terms were disclosed. Headquartered in San Ramon, California, UroMed is a provider of biofeedback and electrical stimulation medical equipment and accessories. Laborie is a maker and provider of medical testing equipment and consumables. Update: Laborie, which was acquired by U.S.-based private equity firm Audax in 2012, earlier this year purchased Life-Tech Inc of Stafford, Texas.
TORONTO–(BUSINESS WIRE)–Laborie Medical Technologies, Inc. (“Laborie”), a portfolio company of Audax Group (“Audax”), announced it has completed the acquisition of UroMed Technology, Inc.’s pelvic muscle rehabilitation business (“UroMed”). Headquartered in San Ramon, California, UroMed offers biofeedback and electrical stimulation medical equipment and accessories, and consumables for pelvic floor rehabilitation in the treatment of urinary and fecal incontinence. The acquisition of UroMed expands Laborie’s offering in Pelvic Muscle Rehabilitation and in the conservative therapy sector.
Laborie, based in Toronto, Ontario, is a leading global manufacturer and supplier of medical testing equipment and consumables with exceptional brand recognition and industry-leading technologies. Laborie supplies physician offices, hospitals, and mobile providers on six continents. Since Audax’s acquisition in July 2012, Laborie has also completed the acquisition of Life-Tech, Inc., based in Stafford, Texas, in January of 2013.
Young Lee, Managing Director of Audax Group, said “Laborie is a market leader in global pelvic health. We will continue to work with Brian Ellacott and the Laborie team to grow the business through organic growth opportunities and strategic add-on acquisitions.”
Brian Ellacott, CEO of Laborie, said “The acquisition of UroMed is an exciting development for Laborie. In combining our product lines, we will now be able to deliver better products and services to our customers, while maintaining the standards of support that they have come to expect.”
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 $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses. For more information visit the Audax Group website www.audaxgroup.com.
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