Endo Pharmaceuticals (NASDAQ:ENDP) said today it has agreed to acquire pelvic health devices and therapies provider American Medical Systems (AMS) for $30 per share in cash, or a total of $2.9 billion including assumption of $312 million in debt.
The combined company will be positioned to deliver more comprehensive healthcare solutions in branded pharmaceuticals, generics and devices and services in key areas of urology and pain Endo said.
The combination, which would have generated $3 billion in revenues on a 2011 pro form basis, will provide cost-effective solutions across the entire urology spectrum, the companies said.
Endo noted that AMS’ anticipated revenue and earnings growth, combined with strong margins and free cash flow generation, make the acquisition a compelling strategic fit.
Endo said the transaction will be immediately accretive to 2011 earnings on an adjusted basis, and is expected to close late in the third quarter.
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