Endo divests remainder of HealthTronics for up to $130 million
Endo Health Solutions (Nasdaq: ENDP) says it has entered into a definitive agreement to sell its HealthTronics business to Altaris Capital Partners, for an upfront cash payment of $85 million, subject to cash and other working capital adjustments.
In addition, Endo will receive 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.
Endo acquired the HealthTronics business in 2010, in a deal worth around $223 million, aiming to continue its diversification, moving into new growth areas beyond pharmaceuticals and strengthening its position in urology (The Pharma Letter May 7, 2010). The company previously divested two operating divisions of HealthTronics, its image guided radiation therapy (IGRT) and its anatomical pathology laboratory businesses, for total consideration of about $25 million.
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