Bayer to acquire Conceptus for $1.1 billion

LEVERKUSEN, Germany — Bayer HealthCare will buy birth-control product maker Conceptus for $1.1 billion, the companies said.

Bayer said its $31-per-share purchase of the Mountain View, Calif.-based company would allow it to expand its selection of contraception products. Conceptus makes Essure, a non-surgical permanent birth-control method, and Bayer said it would allow the company to offer a complete range of short-term, long-term and permanent contraceptive methods for women.

"Bayer is committed to augmenting its organic growth with strategic bolt-on acquisitions," Bayer AG CEO Marijn Dekkers said. "The acquisition of Conceptus represents an excellent fit for our HealthCare business, specifically in the United States, the world's most important healthcare market."