On August 19, Patricia Industries, a part of Investor AB, announced the acquisition of the Canadian medical technology company Laborie from Audax Private Equity.

Following approval by the competition authorities, the acquisition has now been completed.

For the fiscal year 2016 (ending March), sales were USD 117 m. and reported EBITDA was USD 29 m., including non-recurring expenses of approximately USD 9 m. Since 2014, annual organic sales growth has averaged 5 percent in constant currency.

The acquisition price is approximately USD 640 m., which was provided by Patricia Industries, and Laborie’s management and board. Patricia Industries will own approximately 97 percent of Laborie upon closing and intends to replace part of its equity financing with debt at a later stage.