Endo Pharmaceuticals and American Medical Systems (AMS) have entered into a definitive agreement under which Endo will acquire AMS, a provider of devices and therapies for male and female pelvic health, for $30 per share, or $2.9 billion in cash, which includes the assumption and repayment of $312 million of AMS debt. The combined company will deliver comprehensive healthcare solutions across its businesses in branded pharmaceuticals, generics and devices and services, in the therapeutic areas of urology and pain.

Commenting on the transaction, Dave Holveck, president and CEO of Endo, said, "This acquisition is a great step in achieving Endo's core strategy. 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."