Cogentix Medical, Inc. (NASDAQ: CGNT) is a global medical device company that offers products for flexible endoscopy and the treatment of overactive bladder and urinary incontinence.
Its majority share owners, Accelmed Growth Partners LP and Mr. Lewis Pell, who collectively own approximately 60% of Cogentix Medical’s outstanding common stock, agreed to an offer of $3.85 per share (approximately $214 million) from Laborie Medical Technologies (LMT), a subsidiary of Patricia Industries.
The offer of $3.85 per share in cash represents a premium of 28% over the average closing price of Cogentix Medical common stock over the last 30 days.
In July 2017, Cogentix paid $671,817 (£515,000) to acquire Genesis Medical, which develops, sells and markets a variety of products to urologists in the United Kingdom, as well as being the exclusive U.K. distributor of Cogentix’s PrimeSight™ endoscopy systems since 2013. The deal followed Congentix’ announcement last week of an Endo-Urology product line launch in the United States.
Laborie Medical develops, manufactures and markets innovative medical technology and consumables for the diagnosis and treatment of urinary and fecal incontinence.
In March 2017, Laborie paid an undisclosed price to acquire the German medical company ANDROMEDA Medizinische Systems GmbH, which develops and manufactures urodynamic measuring systems and consumables.
