Endo to acquire HealthTronics
Endo Pharmaceuticals Holdings Inc. (NASDAQ:ENDP) plans to acquire urology services and technology company HealthTronics Inc. (NASDAQ:HTRN) for $4.85 per share, or about $223 million in cash. Endo also will assume HealthTronics' net debt of $35 million. The price per share is a 34% premium to HealthTronics' close of $3.62 on Wednesday, before the deal was announced.
Endo said the deal expands its product offerings to urologists, including adding lithotripters and surgical lasers to treat benign prostatic hyperplasia (BPH), as well as anatomical pathology services to detect and diagnose cancer. Endo markets Vantas histrelin for advanced prostate cancer and Valstar valrubicin for the treatment of Bacille Calmette-Guerin (BCG)-refractory carcinoma in situ of the urinary bladder. HealthTronics reported 2009 revenues of $185.3 million. The boards of both companies have approved the deal. ...