GIMV NV sold its majority stake in medical diagnostics company Oldelft BV to fellow Belgian private equity firm Smile Invest NV in a management buyout deal.

Oldelft's management team will reinvest in the company, alongside Smile Invest, the latter said in a release.

Netherlands-based Oldelft manufactures ultrasound instruments used in the adult, pediatric and neonatal cardio markets for diagnosis and heart monitoring.