Laborie Medical Technologies Acquires Pelvalon
PORTSMOUTH, N.H., Oct. 13, 2021 /PRNewswire/ -- Laborie Medical Technologies Corp. (Laborie) a specialist medical technology company, announced today that it has acquired Pelvalon, Inc., a privately held medical device company located in Redwood City, CA.
Pelvalon has developed an innovative product called the Eclipse™ System, a non-surgical, patient-controlled device for women suffering from fecal incontinence (FI). FI is a pelvic floor disorder that affects one in ten women. The Eclipse has a compelling clinical profile validated in multiple studies, is FDA-cleared and has established reimbursement. The product is simple, safe and effective and its reputation has spurred demand from numerous healthcare professionals and patients across the country.
"Laborie's mission every day is to operate as a world-class specialist medical company making and advancing technologies that preserve and restore human dignity," said Michael Frazzette, President & CEO of Laborie. "Our mission is well served by the addition of Eclipse™ to help patients who suffer from this difficult condition."
"I am grateful for the dedicated work of my colleagues to bring the therapy to this point, and we are delighted that Laborie will be able to scale and deliver Eclipse™ to the doctors and patients who need it," said Miles Rosen, Pelvalon Founder and CEO. "Laborie's mission aligns perfectly with this technology."
"Patricia Industries is committed to supporting Laborie in its mission to provide patients and healthcare professionals with innovative and effective therapeutic and diagnostic technologies that preserve and restore human dignity," said Yuriy Prilutskiy, Head of Patricia Industries North America, a part of Investor AB, and owner of Laborie. "This acquisition further supports Laborie's long-term growth, leverages Patricia Industries' healthcare and life sciences expertise and aligns with our organization's purpose of creating value for people and society by building strong and sustainable businesses."
Laborie was represented by Piper Sandler (financial advisor) and Simpson Thacher & Bartlett LLP (legal advisor). Pelvalon was represented by J.P. Morgan Securities LLC (financial advisor) and Dorsey & Whitney LLP (legal advisor).
About Laborie Medical Technologies
Headquartered in Portsmouth, New Hampshire, Laborie is a global medical technology company focused on Urology, Urogynecology, Gastroenterology, Obstetrics, Gynecology & Neonatal Health.
We manufacture and deliver high-quality, high-impact diagnostic and therapeutic products that help clinicians and hospitals preserve and restore patient dignity.
Clinicians and hospitals look to us as the market-leading experts in our business segments, and we support our products with a world-class Clinical Education & Information program. For more information visit www.laborie.com.
Headquartered in Redwood City, California, Pelvalon aims to improve the lives of women who suffer from pelvic floor disorders, conditions that commonly impact women as they age. The company was founded by Miles Rosen and Steve Herbowy. It spun out of Stanford University's Biodesign program and is backed by Norwich Ventures and other investors.
About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owners are the Wallenberg foundations.
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.
SOURCE LABORIE MEDICAL TECHNOLOGIES, CORP.