Brief: Investor: Patricia Industries Funds Laborie's Strategic Acquisition Of Urotronic

Investor AB

06/09/2023 12:54

Sept 6 (Reuters) - Investor AB  INVEb.ST :
    * PATRICIA INDUSTRIES FUNDS LABORIE'S STRATEGIC ACQUISITION
OF
UROTRONIC
    * LABORIE, A SUBSIDIARY WITHIN PATRICIA INDUSTRIES, HAS
ENTERED AN
AGREEMENT TO ACQUIRE REMAINING 91 PERCENT OF UROTRONIC
    * NOW ACQUIRING UROTRONIC, INCLUDING OPTILUMETM BPH PRODUCT,
LABORIE WILL PAY USD 232M IN AN UPFRONT PAYMENT
    * POTENTIAL ADDITIONAL PAYMENTS OF UP TO USD 314M,
CONTINGENT ON
ACHIEVEMENT OF REVENUE AND REIMBURSEMENT MILESTONES, FOR A TOTAL
POTENTIAL VALUE OF USD 546M
    * PATRICIA INDUSTRIES WILL FUND VAST MAJORITY OF UPFRONT
PAYMENT
WITH AN EQUITY INVESTMENT
    * TRANSACTION IS EXPECTED TO BE COMPLETED DURING Q4 2023,
ASSUMING
APPROVAL BY RELEVANT ANTITRUST AUTHORITIES.
    * IN CONJUNCTION WITH UROTRONIC ACQUISITION, LABORIE WILL
ALSO
MAKE A USD 5M STRATEGIC EQUITY INVESTMENT INTO GIE MEDICAL
    * LABORIE ANTICIPATES MAKING SIGNIFICANT INVESTMENTS IN
COMMERCIALIZATION AND CLINICAL PROGRAMS FOR OPTILUMETM BPH

Source text for Eikon:  ID:nWkr5dz6gy 
Further company coverage:  INVEb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))