Laborie Medical Technologies is a leading global provider of urodynamic testing equipment and consumables for urinary incontinence. Laborie supplies physician offices, hospitals, and mobile providers on six continents.
Recruited key executive management to transition from entrepreneur leadership, accelerated organic growth through new product development and operational initiatives, and acquired complementary products and technologies to expand offering and global reach.
Headquartered in Mississauga, ON, Laborie Medical Technologies (“Laborie”) is a leading provider of proprietary medical devices and consumables used in the diagnosis and treatment of urinary incontinence and gastrointestinal (“GI”) conditions.
When Audax invested in July 2012, Laborie was a niche provider of urinary incontinence products focused exclusively on the North American market. Audax saw an opportunity to scale the business by expanding internationally, capturing a larger share of physicians’ equipment and consumables spend, and growing revenue from proprietary products.
In partnership with the founding team, Audax supported the platform’s growth through executive hires, including CEO, CFO, VP Global Marketing, VP Strategic Initiatives, Director RA/QA, VP IT, and VP Operations. Laborie supplemented organic growth with 14 acquisitions during Audax’ hold period. These acquisitions helped Laborie to significantly grow its European market share, expand into adjacent markets such as GI manometry, and increase recurring revenue mix through acquisitions of proprietary disposable products.
“Audax’ expertise and resources were instrumental in acquiring and integrating 14 acquisitions, which transformed Laborie into a global leader in urinary incontinence and gastrointestinal devices and consumables,” said Brian Ellacott, CEO, Laborie Medical Technologies.
“Brian Ellacott and the Laborie team built a best-in-class integrated medical device company with a market-leading position in urology and gastroenterology through product development initiatives and acquisition growth,” said Young Lee, Managing Director, Audax Private Equity.
Audax sold Laborie to Patricia Industries in 2016.