The Firm represented Laborie Medical Technologies Inc., a portfolio company of Patricia Industries, in connection with its announced acquisition of Novonate, Inc. Financial details of the transaction were not disclosed.
Founded in 2017, Novonate is a medical device company based in South San Francisco, CA. Novonate developed the LifeBubble technology, a device that revolutionizes umbilical catheter protection and securement to improve safety for neonates in the intensive care setting.
Laborie is a leading global developer, manufacturer and marketer of diverse, innovative medical technology used in the diagnosis and treatment of disorders in the urology, gynecology, colorectal and gastrointestinal fields and is also a leader in medical technology developed for labor and delivery and neonatal intensive care.
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owners are the Wallenberg foundations.
The Simpson Thacher team included Michael T. Holick, Eva Du and Humberto Romero Carrillo (M&A); Jeannine McSweeney and Scott Schilson (Employee Benefits and Executive Compensation); Jessica Cohen and Kate Mirino (Intellectual Property); Vanessa Burrows (Healthcare); Daniel Venditti (Labor); Sophie Staples and Andrew Mandelbaum (Tax); Timothy Mulvihill and Deepa Sarkar (Environmental); and David Caldwell (Regulatory).