Bayer HealthCare to acquire birth control specialist Conceptus

Bayer HealthCare has announced the acquisition of Conceptus, a leading provider of innovative device-based solutions for permanent birth control.

The company is the developer of Essure, a permanent birth control method that does not require the use of surgery or hormones, allowing the technique to be performed in less than ten minutes, while offering 99.8 percent effectiveness.

Completion of the deal – which has been valued at around $1.1 billion (707.92 million pounds) – is expected to occur in mid-2013 and will allow Bayer to offer a complete range of short-term, long-term and permanent contraceptive choices for women.

Andreas Fibig, member of the Bayer HealthCare executive committee and president of Bayer HealthCare Pharmaceuticals, said: "Our experience in the field of gynaecology, combined with our sales and distribution expertise, will help to further develop Conceptus' business."

In December 2012, the firm received European approval for a new long-term contraceptive option called Jaydess, which was also ratified in the US under the name Skyla earlier this year.