Boston Scientific to purchase urology assets from Endo International

Boston Scientific has announced that it will be acquiring the American Medical Systems urology portfolio, including the men's health and prostate health businesses, from Endo International.

The deal has been valued at up to $1.65 billion (1.07 billion pounds), including an upfront payment of $1.6 billion and a potential additional $50 million milestone based on 2016 sales. The transaction is expected to close during the third quarter of the year.

Boston Scientific will take control of American Medical Systems' complete product portfolio for treating urologic conditions, including benign prostatic hyperplasia, male stress urinary incontinence and erectile dysfunction.

These technologies will complement the company's existing kidney stone, pelvic organ prolapse, female stress urinary incontinence and abnormal uterine bleeding treatment portfolios, creating a comprehensive urology, urogynaecology and gynaecologic surgery portfolio. 

Mike Mahoney, president and chief executive officer of Boston Scientific, said: "We believe this strategic acquisition will strengthen Boston Scientific's global leadership in the urology device category while delivering a strong return to our investors."

This comes after the company completed the takeover of the interventional business of Bayer in September last year.