Endo to acquire American Medical Systems

CHADDS FORD, Pa. — Endo Pharmaceuticals will buy American Medical Systems for $2.9 billion, the drug maker said Monday.

Endo said it and AMS had reached an agreement whereby Endo would acquire the maker of devices and therapies for pelvic health for $30 per share. AMS’ business focuses on men’s health, women’s health and benign prostatic hyperplasia.

“This acquisition is a great step in achieving Endo’s core strategy,” Endo president and CEO Dave Holveck said. “We are creating a company uniquely positioned to respond to the changing healthcare environment and the competitive, rapidly consolidating industry landscape. Through the acquisition of AMS, we will gain scale in devices and services and will be positioned as a leading provider of healthcare solutions in the field of pelvic health, with a full spectrum of product offerings ranging from pharmaceuticals to medical devices.”