Laborie Medical Technologies has successfully closed the acquisition of Urotronic, the medical device company, as previously announced.
United States: On 30th October 2023, Loborie Medical has concluded its acquisition of Urotronic. Urotronic, Inc. is a private medical device company that has pioneered the Optilume® drug-coated balloon technology for the treatment of urethral strictures and benign prostatic hyperplasia (BPH), which is a condition characterized by an enlarged prostate, within the field of interventional urology. As part of the transaction, Urotronic and its staff will be seamlessly incorporated into the Laborie organization. In September of this year, Laborie initially entered into an agreement to purchase Urotronic in a deal with a total worth of up to $600 million. This arrangement comprises an initial cash payment of $255 million, along with the possibility of an additional $345 million in commercial and reimbursement milestone payments. And on October 27, 2023, Laborie Medical Technologies Corp., a prominent medical technology company specializing in diagnostics and therapeutics, confirmed the successful acquisition of Urotronic, Inc.
Laborie Medical Technologies Corp. is a renowned medical technology firm specializing in diagnostic and therapeutic solutions. The company is engaged in the development and supply of a diverse array of medical devices and equipment to healthcare professionals and institutions. These instruments are commonly utilized in urology, gastroenterology, and pelvic health to both diagnose and treat a variety of medical ailments.
Laborie president and CEO Michael Frazzette said, “We are delighted to welcome the Urotronic team to Laborie and we look forward to working together in our mission to deliver innovative technologies in the Interventional Urology space that preserve and restore human dignity.”
Urotronic has created the Optilume drug-coated balloon technology, which finds application in interventional urology for addressing urethral strictures and benign prostatic hyperplasia (BPH), commonly known as enlarged prostate conditions. This innovative approach combines mechanical dilation with the targeted delivery of paclitaxel to treat lower urinary tract symptoms associated with urological BPH stricture, offering a minimally invasive surgical therapy. The company has obtained approvals from both the US Food and Drug Administration and the CE Mark for its Optilume products.
Urotronic president and CEO David Perry said, “Over the last several years, we have seen our partnership develop because we are united on a goal to improve the standard of care for patients and commercialize Optilume products on a global stage.”
According to TechSci Research, this acquisition of Laborie Medical and Urotronic will be beneficial for both the company as Urotronic's innovative medical technology, such as the Optilume drug-coated balloon technology, complements Laborie's existing diagnostic and therapeutic solutions. This diversification allows both companies to offer a broader range of products and services, enhancing their competitiveness and market reach. The acquisition has the potential to drive higher investments in research and development, which, in turn, will facilitate the development of state-of-the-art medical devices and therapies. This enhanced innovation has the capacity to draw greater interest from healthcare professionals and institutions, encouraging them to select products offered by the Laborie-Urotronic partnership.
Through the merger of their resources and capabilities, the recently unified entity is strategically poised to enhance its market footprint. This will allow them to access untapped customer segments, both within their domestic market and on an international scale, harnessing the strengths of the distribution networks of each company.