Redwood City, California-based Pelvalon designed the FDA-cleared Eclipse system as a patient-controlled device for women suffering from fecal incontinence, according to a news release.
Portsmouth, New Hampshire-based Laborie was represented by Piper Sandler as financial advisor and Simpson Thacher & Bartlett LLP as legal advisor. Pelvalon was represented by J.P. Morgan Securities LLC as financial advisor and Dorsey & Whitney LLP as legal advisor.
Financial terms for the acquisition were not disclosed.
“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,” Laborie President and CEO Michael Frazzette said in the news release. “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,” added Pelvalon founder and CEO Miles Rosen. “Laborie’s mission aligns perfectly with this technology.”