Conceptus (CPTS) Acquires Acquires All Distribution Rights Related to the Essure Procedure in the Netherlands
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Conceptus, Inc. (Nasdaq: CPTS) has acquired from its Dutch distributor certain assets and all distribution rights of the Essure device for approximately $3.6 million. The purchase was made by Conceptus' newly-formed subsidiary in the Netherlands, Conceptus BV.
Conceptus BV will operate as a wholly owned subsidiary of Conceptus and its operating results will be consolidated within the Company's operating results for financial reporting purposes beginning in the fourth quarter of 2011. Conceptus BV will assume certain employees who will focus solely on the sales and customer support of the Essure device. The acquisition will enable the Company to recognize end-user sales pricing instead of distributor pricing, which is expected to generate incremental revenues and be accretive in 2012. Based on unit sales, the Netherlands is Conceptus' third largest European country market.
Conceptus BV will operate as a wholly owned subsidiary of Conceptus and its operating results will be consolidated within the Company's operating results for financial reporting purposes beginning in the fourth quarter of 2011. Conceptus BV will assume certain employees who will focus solely on the sales and customer support of the Essure device. The acquisition will enable the Company to recognize end-user sales pricing instead of distributor pricing, which is expected to generate incremental revenues and be accretive in 2012. Based on unit sales, the Netherlands is Conceptus' third largest European country market.
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