Endo Pharmaceuticals said it will acquire American Medical Systems, a Minnetonka, Minn.-based medical devicemaker, for $2.9 billion in a deal that will bolster the company's urology portfolio.
Endo Pharmaceuticals to acquire devicemaker American Medical Systems
AMS makes devices and therapies that treat a range of pelvic disorders, including incontinence and erectile dysfunction, with about 73% of the company's sales made in the U.S. The combined company will have approximately 4,000 employees and is expected to generate around $3 billion in revenue in 2011.
The cash deal, announced Monday, states that Chadds Ford, Pa.-based Endo will assume $312 million of AMS' debt.
“Through the acquisition of AMS, we will gain scale in devices and services, and will be positioned as a leading provider of healthcare solutions in the field of pelvic health, with a full spectrum of product offerings ranging from pharmaceuticals to medical devices,” said Endo President and CEO Dave Holveck in a news release.
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