Boston Scientific Grabs Up Endo’s Men’s, Prostate Health Units for $1.6B
Boston Scientific has agreed to buy Endo International’s men’s and prostate health businesses for $1.6 billion. The deal, expected to close in the third quarter of this year, includes up to $50 million in additional milestone payments based on 2016 sales, BSX said Friday.
The deal includes American Medical Systems line of urology devices for conditions and Boston Scientific’s offering of kidney stone, pelvic organ prolapse, female stress urinary incontinence and abnormal uterine bleeding treatment portfolios, the Marlborough, Mass., devicemaker said. The combined businesses will give BSX portfolio of urology, urogynecology and gynecologic surgery devices.
“The combination of Boston Scientific's Urology and Women's Health and AMS' urology portfolios will create a business with nearly $1 billion in annual sales and enable significant synergies and strong future growth prospects through portfolio innovation and international market expansion,” said President and CEO Mike Mahoney.
This is Boston Scientific’s first acquisition since its 2006 purchase of heart device maker Guidant a deal that ensnared the firm in an eight-year legal battle with Johnson & Johnson. J&J had agreed to terms with Guidant first, only to the company back out to take BSX’s offer. Boston Scientific recently settled with J&J to the tune of $600 million. — Kellen Owings