Laborie is set to exit the medical device manufacturer after another of its investors, Olympus, announced its intention to pay $260m for its remaining shares.

Camera and optics technology producer Olympus has agreed to acquire one of its portfolio companies, Israel-based medical device maker Medi-Tate for $260m.

Olympus invested an undisclosed amount in Medi-Tate in 2018 as part of a distribution agreement, and held an 18.5% stake prior to the transaction, which involves it exercising a call option to buy all the company’s remaining shares.

Founded in 2007, Medi-Tate develops and sells implantable medical devices used to treat benign prostatic hyperplasia, a condition that affects…