LABORIE Acquires Andromeda

TORONTO, March 9, 2017 /PRNewswire/ -- Laborie Medical Technologies ("LABORIE"), a leading developer and manufacturer of medical devices in the pelvic health and gastroenterology market, has completed its acquisition of ANDROMEDA Medizinische Systems GmbH ("Andromeda").  Headquartered in Potzham, Germany, Andromeda is a European market leader in Urodynamics.

LABORIE's acquisition of Andromeda extends its Urodynamic product offering in Europe, specifically Germany. Additionally, Andromeda's product lines complement LABORIE's Urodynamic product offering and further extend its global reach.

"This is another important acquisition for LABORIE as we build out a strong global platform," stated Brian Ellacott, LABORIE President and CEO. "Andromeda has built a very loyal customer base in Europe and we look forward to working with the Andromeda team to provide more products and services to their customers."

About LABORIE

LABORIE is an industry-leading manufacturer and supplier of pelvic health and gastrointestinal equipment and consumables. Since it's founding in 1967, LABORIE has been committed to delivering innovative, complete solutions that provide better diagnostics and treatment outcomes to patients worldwide.  LABORIE is a subsidiary of Patricia Industries.

Patricia Industries, a part of Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth.  Our ambition is to be the sole owner of our companies, together with strong management teams and boards.  We invest with an indefinite holding period, and focus on building durable value and capturing organic and non-organic growth opportunities.

Investor, founded by the Wallenberg family a hundred years ago, is the leading owner of high quality Nordic-based International companies.  Through board participation, our industrial experience, network and financial strength, we strive to make our companies best-in-class.  Our holdings include, among others, Atlas Copco, SEB, ABB, Ericsson and Mölnlycke Health Care.

For more information regarding LABORIE's comprehensive line of products, please visit www.laborie.com or call +31 53 4803700.

SOURCE LABORIE Medical Technologies