Laborie Medical Technologies Inc. and Signet Healthcare Partners Close GI Supply Acquisition

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Oct 01, 2020, 10:57 ET

The acquisition strengthens LABORIE and GI Supply's position in the gastroenterology space helping healthcare providers better support their patients

BURLINGTON, Mass., Oct. 1, 2020 /PRNewswire/ -- Laborie Medical Technologies (LABORIE), a leading diagnostic and therapeutic medical technology company, in partnership with Signet Healthcare Partners, a growth equity firm specializing in healthcare investments, announced the close of the acquisition of GI Supply, a leader in specialty endoscopy and paracentesis products for gastroenterologists, colorectal surgeons, and interventional radiologists.

GI Supply will continue to operate as an independent entity led by its CEO Kristi Dahlke, and its existing leadership team. Concurrently with the acquisition, Ashley Friedman, Managing Director at Signet Healthcare Partners, will join the board of directors at GI Supply.

"We are pleased to welcome this talented team to the LABORIE family," said Michael Frazzette, President & CEO of LABORIE. "While we will continue to function separately from an operations perspective, we are excited about our commercial partnership in the U.S. This partnership enables both companies to offer healthcare practitioners a broad portfolio of innovative GI products to support their patients."

Kristi Dahlke, CEO of GI Supply added, "The ability to continue to enhance our commitment to healthcare practitioners by increasing the scope of our product portfolio is truly something we value and it is a milestone in our strategic plan."

LABORIE and GI Supply will continue to invest to grow organically and look for strategic acquisitions, particularly to rapidly expand into new, high-growth gastroenterology market segments.

ABOUT LABORIE MEDICAL TECHNOLOGIES
Globally headquartered in Boston, Massachusetts, LABORIE is a leading global developer, manufacturer and marketer of diverse, innovative medical technology used in the diagnosis and treatment of disorders in the Urology, Gynecology, Colorectal, and Gastrointestinal fields. With its recent acquisition of Clinical Innovations, LABORIE is also a leader in medical technology developed for Labor and Delivery and Neonatal Intensive Care. LABORIE is a portfolio company of Patricia Industries. For more information visit www.laborie.com.

ABOUT GI SUPPLY
As a physician-founded company, we strive for deep clinical input into all that we do. GI Supply is broadening our portfolio with solutions that allow physicians to perform more-advanced procedures safely, efficiently, and economically. We help doctors do their jobs faster, safer, and simpler. For more information visit www.gi-supply.com.

ABOUT PATRICIA INDUSTRIES
Patricia Industries, a part of Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period and focus on building durable value and capturing organic and non-organic growth opportunities. For more information visit https://www.patriciaindustries.com/.

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 board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include among others ABB, Atlas Copco, Ericsson, Mölnlycke and SEB. For more information, visit www.investorab.com.

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's focus has primarily been on the pharmaceutical sector and medical technology companies. Signet maintains a disciplined, yet flexible investment approach. As an active investor, Signet partners closely with its companies to build their value including facilitating activities between portfolio companies. During Signet's 18-year history, it has developed a strong reputation and track record of successful investments. Signet has raised four funds with total capital commitments of over USD 400 million and has invested in more than 45 companies. More information about Signet Healthcare Partners can be found at www.signethealthcarepartners.com.

SOURCE LABORIE Medical Technologies