Boston Scientific Buys Endo Men’s Health Unit for $1.6 BillionKim McLaughlin
Boston Scientific Corp. agreed to buy the American Medical Systems urology portfolio from Endo International Plc for at least $1.6 billion in cash to expand in men’s health and prostate treatments.
The purchase includes a potential additional $50 million milestone based on 2016 sales, Boston Scientific said in a statement on Monday. The businesses will become part of the Marlborough, Massachusetts-based company’s urology and women’s health arm.
“This strategic acquisition will strengthen Boston Scientific’s global leadership in the urology device category while delivering a strong return to our investors,” Boston Scientific Chief Executive Officer Mike Mahoney said in the statement.
The portfolio includes products for treating urologic conditions, including benign prostatic hyperplasia, male stress urinary incontinence and erectile dysfunction, Boston Scientific said. The business generated 2014 sales of about $400 million and adjusted operating income of about $130 million, excluding amortization and certain allocated expenses.
JPMorgan Chase & Co. was financial adviser to Boston Scientific. The company expects to close the transaction in the third quarter.
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