Laborie Medical Technologies Corp. (LMT) has announced a strategic equity investment in Bright Uro, an early-stage medical technology company headquartered in Irvine, California.
Founded in 2021, Bright Uro is developing the Glean Urodynamic System™, a wireless, catheter-free, urodynamic monitoring system intended to quantify the pressure characteristics of the lower urinary tract.
LMT, a subsidiary of Stockholm-based private equity firm Patricia Industries, is a global medical technology company focused on urology, urogynecology, gastroenterology, obstetrics, gynecology and neonatal health. LMT develops, manufactures and markets medical technology and consumables to diagnose and treat urinary and fecal incontinence. It is based in Portsmouth, New Hampshire.
Simpson Thacher & Bartlett LLP and Cooley LLP acted as legal advisors to Laborie. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction represents the 103rd Medical Devices acquisition of 2023. This also marks LMT’s third transaction of 2023. The company acquired Novonate for an undisclosed price in February, followed by Urotronic for $255 million upfront in September.
