The companies struck an agreement last month for Laborie to buy Urotronic for up to $600 million.
Urotronic developed the Optilume DCB used in interventional urology procedures. It treats urethral strictures and benign prostatic hyperplasia (BPH) or enlarged prostate conditions.
Minneapolis-based Laborie acquired exclusive rights to Optilume in January 2022. The system combines mechanical dilation using a proprietary double-lobe balloon with concurrent localized delivery of paclitaxel.
Under the terms of the acquisition, Laborie intends to pay $255 million upfront in cash. It also includes up to $345 million in potential commercial and reimbursement milestones. Net of Laborie’s existing minority investment in Urotronic, the deal comes to $232 million upfront with milestones reaching up to $314 million.
Laborie plans to fully integrate Urotronic and its employees into its business as part of the transaction. President and CEO Michael Frazzette expressed the company’s delight in welcoming the Urotronic team.
“We look forward to working together in our mission to deliver innovative technologies in the interventional urology space that preserve and restore human dignity,” Frazzette said.
Yuriy Prilutskiy, head of North America at Patricia Industries — the owner of Laborie — said Patricia is excited to support Laborie’s long-term growth. Prilutskiy said the acquisition aligns with its purpose of creating value through strong and sustainable businesses.
“Joining the Laborie team is an exciting new chapter for Urotronic,” said Urotronic President & CEO David Perry. “Over the last several years, we have seen our partnership develop because we are united on a goal to improve the standard of care for patients and commercialize Optilume products on a global stage.”