Laborie Medical Technologies has concluded the previously announced acquisition of medical device company Urotronic.
In September of this year, Laborie first signed an agreement to acquire Urotronic in a transaction valued at up to $600m.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The deal includes a $255m upfront cash payment and up to another $345m in potential commercial and reimbursement milestone payments.
As part of the transaction, Urotronic and its employees will be completely integrated into Laborie.
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 developed Optilume drug-coated balloon technology that is used in interventional urology for the treatment of urethral strictures and benign prostatic hyperplasia (BPH) or enlarged prostate conditions.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIt is a new minimally invasive surgical therapy that integrates mechanical dilation with the delivery of paclitaxel for the treatment of lower urinary tract symptoms secondary to urological BPH stricture.
The company received approval from the US Food and Drug Administration and 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 commercialise Optilume products on a global stage.”
