Laborie Medical Technologies has purchased Clinical Innovations in a deal worth $525 million. The deal is expected to close in early 2020.
Through the deal, Clinical Innovations will continue to help mothers and babies through its labor, delivery and neonatal intensive care specialties.
“This is a promising deal that will add scale to the overall business,” Clinical Innovations president and CEO Ken Reali said in a news release. “We share a similar vision for the continued growth of Clinical Innovations. The combination of Clinical Innovations and Laborie will have a positive impact for mothers, babies and healthcare professionals.”
Laborie is a manufacturer of technologies and consumables for gastrointestinal procedures and for the diagnosis and treatment of pelvic health in urology, gynecology and colorectal applications.
“Acquiring Clinical Innovations marks an important step in the evolution of our business and our continued investment in market-leading technologies for high-growth medical specialties that deliver clinical access and economic advantages,” Laborie president and CEO Michael Frazzette said. “Clinical Innovations, which will form a standalone global business unit, immediately provides Laborie with a strong global presence in the L&D and NICU specialties. The company’s diversified, differentiated product portfolio truly makes a difference for clinicians and their patients.”