HealthTronics, an Austin, Texas-based supplier of urological products and services, has agreed to be acquired by the Chadds Ford, Pa.-based specialty pharmacy company Endo Pharmaceuticals Holdings for $223 million in cash and debt, according to a news release.
Endo Pharmaceuticals to acquire HealthTronics
The deal has been approved by both companies’ boards, and the purchase of HealthTronic’s outstanding stock at the price of $4.85 per share is expected to commence within 10 business days. As a part of the agreement, Endo will also assume roughly $35 million in debt. Once the acquisition is completed, HealthTronics will become a wholly owned subsidiary of Endo. HealthTronics President and CEO James Whittenburg along with several other key executives will be retained by Endo after the acquisition. The deal is expected to close in July.
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