Laborie Medical Technologies and Signet Healthcare Partners to Acquire GI Supply
BURLINGTON, Mass., Sept. 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, signed an agreement to acquire GI Supply, a leader in specialty endoscopy and paracentesis products for gastroenterologists, colorectal surgeons, and interventional radiologists. The acquisition is expected to close once approved by regulatory authorities.
GI Supply and LABORIE will continue to operate independently. GI Supply will continue to be led by its CEO Kristi Dahlke, and its existing leadership team. The combined GI Supply and LABORIE product portfolio and commercial capabilities will enable the organizations to reach a larger customer base and offer healthcare practitioners a broad portfolio of innovative products that support relief from some of the most prevalent medical issues they encounter in their practice.
"At LABORIE, we are committed to helping improve lives by enabling our clinical customers and their patients with relevant solutions for their needs. We do this organically as well as through strategic acquisitions," said Michael Frazzette, President & CEO. "With the acquisition of GI Supply, we immediately enhance LABORIE's gastroenterology product offering and sales channel in the U.S. and internationally. This is an important step in the evolution of our GI business."
Kristi Dahlke, CEO of GI Supply added, "GI Supply was founded on the desire to improve physician efficiency and patient satisfaction. This acquisition will further enhance our commitment to healthcare practitioners around the world by increasing the scope of our product portfolio. We are excited about what the future holds."
"Patricia Industries is excited to continue supporting LABORIE's long-term growth with this acquisition, which aligns with our purpose of creating value for people and society by building strong and sustainable businesses," said Yuriy Prilutskiy, Managing Director at Patricia Industries, a part of Investor AB. "We look forward to partnering with Signet Healthcare Partners and the LABORIE and GI Supply management teams to help patients and healthcare professionals globally benefit from greater access to the companies' combined product portfolio."
Concurrently with the acquisition, Ashley Friedman, Managing Director at Signet Healthcare Partners, will join the board of directors at GI Supply. "We are very excited to partner with GI Supply, LABORIE, and Patricia Industries to support in building a growing specialty gastroenterology business through both organic and non-organic initiatives," said Ashley Friedman.
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SOURCE Laborie Medical Technologies