Wayne-based Bayer HealthCare LLC announced today it will acquire Conceptus Inc., the Mountain View, Calif.-based developer of the Essure procedure, as it broadens its portfolio in contraception.
According to the announcement, Essure is a leading non-surgical permanent birth control method.
Within the next 10 business days, Bayer will launch a public tender offer to acquire all shares in Conceptus, at a rate of $31 per share in cash. Closing is subject to customary conditions, and is expected by mid-year 2013.
According to the announcement, Conceptus generated net sales of $141 million in fiscal 2012.
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