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ARTICLE | Company News

Endo to acquire American Medical Systems

April 12, 2011 12:28 AM UTC

Endo Pharmaceuticals Holdings Inc. (NASDAQ:ENDP) will acquire pelvic health company American Medical Systems Holdings Inc. (NASDAQ:AMMD) for $30 per share, or about $2.9 billion, including the repayment of $312 million of American Medical's debt. The price is a 34% premium to American Medical's Friday close of $22.33, before the deal was announced. The boards of both companies approved the deal, which is expected to close next quarter.

Endo said the acquisition will strengthen its urology franchise, which includes prostate cancer treatment Vantas histrelin, and urology services and technology from last year's acquisition of HealthTronics Inc. (NASDAQ:HTRN). American Medical markets medical devices and therapies for male and female pelvic health, including its GreenLight laser technology to treat benign prostatic hyperplasia (BPH), as well as products to treat incontinence, erectile dysfunction, pelvic floor prolapse and other pelvic disorders. American Medical had 2010 sales of $542.3 million (see BioCentury Extra, May 5, 2010). ...