Laborie Expands NICU footprint with Acquisition of Novonate

The acquisition of Novonate's flagship product, LifeBubble, grows Laborie's Obstetrics, Gynecology and Neonatal portfolio.

PORTSMOUTH, N.H., Feb. 14, 2023 /PRNewswire/ -- Leading diagnostic and therapeutic medical technology company, Laborie Medical Technologies Corp. (Laborie), announced that it has acquired Novonate, Inc. (Novonate) and its LifeBubble technology, a device that revolutionizes umbilical catheter protection and securement to improve safety for neonates in the intensive care setting.

Founded in 2017, Novonate is a medical device company based in South San Francisco, CA. The company developed LifeBubble after seeing an unserved need in the Neonatal Intensive Care Unit (NICU). Each year in the U.S., more than 200,000 babies require umbilical cord catheters to receive nutrients and medicine¹. Typically, umbilical catheters are held in place with tape and adhesive, a method that increases the risk of complications and infections. The LifeBubble umbilical catheter securement system offers a safe, innovative, and user-friendly method that allows for easy positioning and removal while protecting the insertion site.

"At Laborie, we believe that great healthcare is an essential safeguard of human dignity and we are focused on improving the standard of care for patients. LifeBubble is the first product in the world designed to more effectively secure and protect umbilical catheters, improving health outcomes for newborns," said Nikki Bruce, Vice President and General Manager of Laborie's OB Business Unit. "We are pleased to add the technology to our Obstetrics, Gynecology and Neonatal portfolio."

"We designed this product to tackle an unmet need and benefit one of the most vulnerable patient populations. I'm incredibly proud of our team for their passion and dedication for pushing forward to bring LifeBubble from conception to market," said Novonate CEO Eric Chehab, "Laborie's mission is well aligned with our goals of advancing the standard of care for neonates in intensive care."

"We are excited to support Laborie's long-term growth and deliver on our shared commitment to provide innovative solutions that improve clinical outcomes for mothers and babies around the world with the acquisition of Novonate and the LifeBubble," said Yuriy Prilutskiy, Head of Patricia Industries North America.

About Laborie Medical Technologies

Headquartered in Portsmouth, New Hampshire, Laborie is a global medical technology company focused on Urology, Urogynecology, Gastroenterology, Obstetrics, Gynecology & Neonatal Health. We manufacture and deliver high-quality, high-impact diagnostic and therapeutic products that help clinicians and hospitals preserve and restore patient dignity.

Clinicians and hospitals look to us as the market-leading experts in our business segments, and we support our products with a world-class Clinical Education & Information program. For more information visit www.laborie.com.

Laborie is owned by Patricia Industries, a part of Investor AB.

About Patricia Industries

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.

About Investor AB

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high-quality, global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class.

1. https://engineering.stanford.edu/news/solving-big-problem-among-some-littlest-patients

SOURCE Laborie Medical Technologies