Endo Pharma Agrees to Buy American Medical for $2.9 Billion

Endo Pharmaceuticals Holdings Inc., seeking to reduce dependence on its top-selling painkiller, agreed to buy American Medical Systems Holdings Inc. for $2.9 billion to add urology products.

Stockholders of American Medical, which makes incontinence treatments, will get $30 a share, Chadds Ford, Pennsylvania-based Endo said today in a statement. That’s 34 percent above the April 8 closing price for Minnetonka, Minnesota-based American Medical. Endo will also assume $312 million of American Medical’s debt.