Endo Pharmaceuticals to acquire HealthTronics for $223 million
06 May 2010
Specialty pharmaceuticals firm Endo Pharmaceuticals yesterday signed a deal to buy leading provider of urologic products HealthTronics Inc for $223 million in cash.
Endo said the transaction was aimed at diversifying its revenue stream and urology product offerings.
Founded in 1972 and headquartered in Austin, Texas, HealthTronics provides an exclusive suite of healthcare services and technology, including urologist partnership opportunities, surgical and capital equipment, maintenance services and anatomical pathology services.
The company's product portfolio includes a full line of urology equipment and products, including lithotripters, surgical lasers for treatment of BPH, and anatomical pathology services. As a service provider, HealthTronics offers the latest technology in lithotripsy services and prostate therapy services, including BPH treatments and prostate cancer treatments.
Under the deal, Endo will acquire 100 per cent of the outstanding shares of HealthTronics for approximately $223 million or $4.85 cash per HealthTronics share plus the assumption of approximately $35 million in net debt.
After the closure of the transaction, approved by the boards of both companies, HealthTronics will operate as a wholly-owned subsidiary of Endo.