Harris Williams & Co. Advises Laborie Medical Technologies, Inc. on its Sale to Patricia Industries

September 19, 2016

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the sale of Canada-based Laborie Medical Technologies, Inc. (Laborie), a portfolio company of Audax Private Equity (Audax), to Patricia Industries, a U.S. subsidiary of Sweden-based Investor AB. Laborie is a leading developer, manufacturer and marketer of medical diagnostic equipment and treatment devices. Geoff Smith, Turner Bredrup, Andy Dixon, Andy Hewlett, Ricky Ng and Andrew Hoft of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group advised Laborie on the transaction in addition to a team from Jefferies LLC.

“We are thrilled to have represented Laborie’s shareholders and management in this transaction,” said Geoff Smith, a managing director in Harris Williams & Co.’s HCLS Group. “The transaction is representative of the strong and continued M&A interest in best-in-class medical equipment and device providers.”

Andy Dixon, a director in Harris Williams & Co.’s HCLS Group, added, “Laborie’s management team has done a tremendous job creating a global market leader with an outstanding brand reputation. Laborie’s solutions address market needs while reducing misdiagnoses, enhancing patient outcomes and reducing overall healthcare system costs. We look forward to following Laborie’s continued success under Patricia Industries’ ownership.”

Laborie Medical Technologies, headquartered in Mississauga, Ontario, is a leading global provider of innovative medical devices for urological, pelvic health and gastrointestinal applications. The company’s products are used in the diagnosis and treatment of urinary incontinence and other urological and GI conditions. Laborie supplies physician offices, hospitals and mobile providers on six continents. Since its founding in 1967, Laborie has been committed to delivering innovative, complete solutions that provide better diagnostics and treatment outcomes to patients worldwide.

Since its founding in 1999, Audax has been focused on building leading middle market companies. Audax has invested over $3.5 billion in 99 platform and 498 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations and significantly increase equity value. Audax Private Equity is an integral part of Audax, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York and Menlo Park, Audax has over $10 billion in assets under management across its Private Equity, Mezzanine and Senior Debt businesses.

Patricia Industries, a U.S. subsidiary of Sweden-based Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Patricia Industries invests with an indefinite holding period and focus on building durable value and capturing organic and non-organic growth opportunities.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence.  Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including multi-site and retail healthcare providers; alternate site care; healthcare IT; managed care and cost containment services; medical devices, products and distribution; outsourced clinical services; and outsourced pharma services.  For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.