Endo Health Solutions has completed the previously announced divestiture of HealthTronics to Altaris Capital Partners for an upfront cash payment of $85 million. 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.
HealthTronics is a national provider of urological services and products. The company provides advanced technology and support systems to urologists, hospitals, surgery centers and clinics across the United States. HealthTronics’ offerings include mobile medical equipment, IT solutions, laboratory solutions, and electronic health records. The company is headquartered in Austin, TX (www.healthtronics.com).
Altaris invests from $15 million to $50 million of equity in companies that operate across the healthcare industry, including the pharmaceuticals, medical devices, services and IT sectors. The firm is headquartered in New York (www.altariscap.com).
Endo Health Solutions (Nasdaq: ENDP) is a US-based specialty healthcare company with business segments that are focused on branded pharmaceuticals, generics, and medical devices. The company is headquartered near Philadelphia in Malvern, PA (www.endo.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 2-4-14