LABORIE Medical Technologies, a portfolio company of The Audax Group, has acquired Medical Measurement Systems a developer and distributor of medical diagnostic systems.
“This is a very strategic acquisition for LABORIE,” said Brian Ellacott, LABORIE President and CEO. “MMS has developed user-friendly products based on a unique platform that simultaneously supports urology and gastroenterology customers. We see tremendous opportunities to leverage this single platform across all our products and extend our global reach through the MMS global distribution network. We see this as a very complementary acquisition.”
Medical Measurement Systems (MMS) is a developer and distributor of medical diagnostic systems used in urodynamics and gastroenterology. In the urodynamic field (the investigation of the function of the lower urinary tract – the bladder and urethra) MMS markets a complete line of diagnostic equipment including wireless uroflowmeters and multi-channel video-urodynamic systems. The equipment is used to diagnose bladder dysfunctions, micturition disorders, urinary and fecal incontinence as well as prostate problems. In the gastroenterology field, MMS sells a line of ambulatory and stationary equipment used to measure and diagnose non-cardiac chest pain, swallow disorders, reflux, EGG and motor abnormalities for the oesophagus, stomach, small bowel, colon and anorectal canal. MMS is headquartered in Enschede, The Netherlands, with a German subsidiary in Bottrop and US operations in Dover, NH (www.mmsinternational.com).
LABORIE, acquired by Audax in August 2012, is a developer, manufacturer and marketer of medical technology and consumables for the diagnosis and treatment of urinary and fecal Incontinence, as well as other pelvic floor disorders in the urology, gynecology, and colorectal fields. Customers include physician offices, hospitals, and mobile medical services providers. The company is headquartered in Toronto (www.laborie.com).
The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. Audax has over $6 billion in assets under management in its private equity, mezzanine, and senior debt businesses. The firm was founded in 1999 and has offices in Boston and New York (www.audaxgroup.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-13-15
