The Swedish company Patricia Industries recently acquired the Toronto, Canada-based medical device company LABORIE from Audax Private Equity.
Here's what you need to know:
1. LABORIE develops technology for the diagnosis and treatment of urologic and gastrointestinal disorders.
2. LABORIE's sales were $117 million in fiscal year 2016 (ending in March).
3. This agreement is Patricia Industries' first Canadian acquisition and its second North American acquisition. Patricia Industries' other healthcare holdings include Sweden-based Mölnlycke Health Care and Scandinavia-based Aleris.
4. LABORIE will still be run by its current management team, which will remain part-owners of the company.
5. The acquisition is expected to close during the third quarter 2016.
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