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Laborie Medical to acquire Cogentix

Privately held Laborie Medical Technologies Inc. is set to acquire Cogentix Medical Inc. for $3.85 per share in cash.

Laborie said the deal was worth $214 million on an enterprise value basis, while Cogentix said the deal was worth $239 million.

The per-share consideration represents a 28% premium to the average closing price of Cogentix's stock over the last 30 days.

The acquisition will give Mississauga, Ontario-based Laborie Medical access to Cogentix's urology- and gynecology-related medical devices.

The transaction is expected to close in the third quarter of 2018, and upon completion, Cogentix will operate as a wholly owned subsidiary of Laborie.