Endo Completes Divestiture Of HealthTronics
MALVERN, Pa., Feb. 3, 2014 /PRNewswire/ -- Endo Health Solutions (Nasdaq: ENDP) today announced that it has completed the previously announced divestiture of HealthTronics to Altaris Capital Partners, LLC for an upfront cash payment of $85 million, subject to cash and other working capital adjustments. In addition, Endo received rights to additional cash payments of up to $45 million based on the future operating performance of HealthTronics for a total consideration of up to $130 million.
The closing of this transaction and the earlier announced sales of HealthTronics' anatomical pathology business and IGRT business completes Endo's full divestiture of all HealthTronics businesses.
Endo Health Solutions Inc. is a U.S.-based specialty healthcare company with business segments that are focused on branded pharmaceuticals, generics, and medical devices which deliver quality products to its customers intended to improve the lives of patients. Through its operating companies - Endo Pharmaceuticals, Qualitest, and AMS - Endo is dedicated to delivering value to our stakeholders: customers, patients, and shareholders. Learn more at www.endo.com.
About Altaris Capital Partners
Altaris is an investment firm focused exclusively on the healthcare industry. With over $1.3 billion of equity capital under management, Altaris invests in businesses that meet clearly defined healthcare needs. Altaris' portfolio companies are typically headquartered in North America or Western Europe, but have operations throughout the world. Altaris is based in New York. For more information, please visit www.altariscap.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intend," "guidance," "future" or similar expressions are forward-looking statements. Because these statements reflect our current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption "Risk Factors" in Endo's Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein or therein, could affect Endo's future financial results and could cause Endo's actual results to differ materially from those expressed in forward-looking statements contained in our Annual Report on Form 10-K. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause our actual results to differ materially from expected and historical results. Endo assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
SOURCE Endo Health Solutions Inc.