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Medical Device Maker Cogentix Medical Agrees to USD 239m Laborie Medical Technologies Buyout
Tuesday 13 March 2018

13 March 2018 - US-based medical device company Cogentix Medical, Inc. (NASDAQ: CGNT) has entered into a definitive merger agreement, under which Canadian medical technology and consumables firm Laborie Medical Technologies will acquire all of the outstanding shares of Cogentix Medical for a total consideration of approximately USD 239m, the company said.

Under the terms of the definitive merger agreement, Laborie (through its wholly-owned subsidiaries LM US Parent, Inc. (Parent) and Camden Merger Sub, Inc. (Merger Sub) will commence a tender offer for all outstanding shares of Cogentix Medical common stock for USD 3.85 per share in cash.

The offer of USD 3.85 per share in cash represents a premium of 28 % over the average closing price of Cogentix Medical common stock over the last thirty days.

Cogentix Medical currently anticipates the transaction will close in the first half of 2Q18. 

Upon completion of the transaction, Cogentix Medical will become a wholly owned subsidiary of Laborie.

Closing of the tender offer and merger is subject to certain customary conditions, including the tender in the tender offer of more than 50% of all outstanding shares of Cogentix Medical common stock. The transaction is also subject to other customary closing conditions.

Laborie is a global developer, manufacturer and marketer of medical technology and consumables used in gastrointestinal procedures and for the diagnosis and treatment of pelvic health in the Urology, Gynecology, and Colorectal fields.

The firm is owned by Patricia Industries a part of Investor AB and is a long-term owner that invests in companies and works to develop each company to its full potential.

Cogentix Medical is a medical device company. It is engaged in the design, development, manufacture and marketing of products for flexible endoscopy.

It is a portfolio company of Accelmed Growth Partners LP.
Date Published: 13/03/2018
Target: Cogentix Medical, Inc
Country: USA
Deal Size: 239m (USD)
Sector: Healthcare
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor: Accelmed Growth Partners
Buyer: Laborie Medical Technologies