Endo Pharmaceuticals (Nasdaq: ENDP) announced today the completion of its acquisition of American Medical Systems, Inc. (AMS). Endo announced on April 11, 2011, that it entered into a definitive agreement to acquire AMS, a leading provider of world-class devices and therapies for male and female pelvic health, for approximately $2.9 billion in cash.
"Closing on this acquisition marks another milestone in the transformation of Endo and accelerates our strategy of building a diversified healthcare company, better able to respond to the changing economics that drive the U.S. healthcare environment," said Dave Holveck, president and CEO of Endo. "AMS accelerates our overall growth, and we are very excited about the potential of its current commercial portfolio, as well as potential new product introductions."
AMS brings Endo scale in its devices and services business segment, and the combination of AMS with Endo's existing platform will provide additional cost-effective solutions across the entire urology spectrum. It is expected that the combined company will deliver more comprehensive healthcare solutions across its diversified businesses in branded pharmaceuticals, generics, devices and services in key therapeutic areas, including pain and urology.
Endo Pharmaceuticals expects to announce second quarter 2011 earnings in early August and will update full year 2011 financial guidance at that time.
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