Bayer to spend $1.1 billion for contraceptive device
Bayer will gain access to the contraceptive device Essure by acquiring its maker Conceptus for a purchase price of around $1.1 billion.
Through buying the California-based specialist, German giant Bayer will complete its range of contraceptive options for women and expand its US operations.
Bayer’s contraceptive business last year was worth sales of $4.1 billion, from products such as the contraceptive pill Yasmin (ethinylestradiol and drospirenone) and the levonorgestrel-releasing intrauterine system Mirena.
“Bayer is committed to augmenting its organic growth with strategic bolt-on acquisitions. The acquisition of Conceptus represents an excellent fit for our healthcare business – specifically in the US, the world’s most important healthcare market.”
Marijn Dekkers, chief executive, Bayer.
“We believe that under Bayer’s ownership, the Essure product will more rapidly become the standard of care in our established markets, and will benefit in new markets from Bayer’s global presence.”
D. Keith Grossman, president and chief executive, Conceptus.
Essure is a non-hormonal intra-fallopian contraceptive device that offers permanent birth control while in place.
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