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Endo to sell HealthTronics for up to USD130m.

MANews-(C)2009-2014

9 January 2014 - US speciality healthcare company Endo Health Solutions Inc (NASDAQ:ENDP) said today it had agreed to sell its unit, HealthTronics Inc, to local investment firm Altaris Capital Partners LLC for up to USD130m (EUR95.5m) in cash.

The purchase price includes an upfront consideration of USD85m, subject to cash and other working capital adjustments, and milestone payments of up to USD45m.

HealthTronics distributes and markets urological equipment for screening, diagnosis and treatment of urological problems. The company was acquired by Endo back in 2010.

The transaction is in line with Endo's strategy to create a product-based speciality healthcare company, its CEO, Rajiv De Silva, said in a statement.

Endo has already disposed of the image guided radiation therapy (IGRT) and the anatomical pathology laboratory operations of HealthTronics for USD25m.

The current deal, subject to customary closing conditions and pending regulatory approval, is scheduled to close in the first quarter of 2014.

Country: USA

Sector: Healthcare

Target: HealthTronics Inc

Buyer: Altaris Capital Partners LLC

Vendor: Endo Health Solutions Inc

Deal size in USD: 130m

Type: Divestment, LBO

Status: Agreed

Comment: The deal size includes milestone payments of up to USD45m.

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Publication:M & A Navigator
Date:Jan 9, 2014
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