Toronto-based Laborie Medical Tech develops and manufactures urological, pelvic health and gastrointestinal medical devices used for diagnosis and treatment of urinary incontinence and other urological and GI conditions, Audax Medical said.
Laborie acquired the pelvic muscle rehabilitation business of UroMed Technology in October 2013 for an undisclosed amount.
“Under Audax’ ownership, Laborie transformed from a manufacturer of capital equipment for urodynamic testing into a fully-integrated medical device company with a market-leading position in urology and a rapidly growing gastroenterology business. We are proud of the shared accomplishment and wish Laborie continued success with its new partner,” managing director Young Lee said in prepared remarks.
In July, Laborie Med Tech said it took out a stake in Israel’s Medi-Tate, which is developing devices to treat enlarged prostates, for an unspecified amount.
Akiva, Israel-based Medi-Tate developed a minimally invasive treatment for benign prostate hyperplasia called iTind, which uses a 5-day implant to reshape the urethra and create new channels for urine flow. It’s designed to lower the risk of post-procedural sexual dysfunction associated with pharmaceutical or surgical treatments, Laborie said.