US-based medical equipment manufacturer Boston Scientific has completed the acquisition of American Medical Systems' (AMS) urology portfolio from Endo International, for around $1.6bn in cash.
The deal, which was first announced in March this year, also includes the additional payment of $50m based on sales in 2016.
Under the deal, Boston Scientific has acquired AMS urology portfolio, including Men’s Health and Prostate Health businesses.
Boston Scientific senior vice-president and urology and pelvic health president Karen Prange said: "Together, we create a business with nearly $1bn in annual sales, strong future growth prospects through innovation and market expansion, and a significant opportunity to address unmet medical needs.
"As a category leader, our combined organization will bring value-driven innovations that can help healthcare providers advance patient outcomes, reduce procedure costs, enhance quality and evolve the treatment of urologic and pelvic conditions in ways that previously could not be realized by either company alone."
The company incorporates the acquired businesses in its Urology and Women’s Health businesses and joint businesses will be called as Boston Scientific Urology and Pelvic Health business.
This business unit will invest in surgical solutions for the treatment of abnormal uterine bleeding and uterine fibroids.
The acquired portfolio includes GreenLight XPS and HPS Laser Therapy Systems to treat benign prostatic hyperplasia, AMS 800 Urinary Control System to treat male incontinence and AMS 700 Inflatable Penile Prosthesis to treat erectile dysfunction.
The deal does not include the acquisition of AMS women’s health business, according to Boston Scientific.
Image: Boston Scientific’s corporate headquarters in Marlborough, Massachusetts. Photo: courtesy of Boston Scientific Corporation.