American Medical Systems (AMMD) Announces Divesture of Ovion Technology to Conceptus (CPTS) for $23.6M
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American Medical Systems Holdings, Inc. (NASDAQ: AMMD) today announced the divestiture of its female sterilization assets and technology to Conceptus, Inc. (NASDAQ: CPTS) for $23.6 million. Also, as a result of this asset sale agreement, and separate agreements completed with third parties, AMS eliminated all existing and potential obligations and liabilities under previous agreements associated with the Ovion technology. The asset sale agreement also releases Conceptus from any future royalty obligations to AMS.
"We are pleased with the outcome of this transaction, as it supports our strategy to focus on addressing unmet needs in our established pelvic health markets while at the same time maximizing the return to our shareholders of this nonstrategic asset," stated Tony Bihl, President and CEO of AMS.
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