Valeant sees Synergetics’ items as the way to reinforcing the said 2013-obtained business, according to Chron.
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Synergetics USA Inc (NASDAQ:SURG) (TREND ANALYSIS) announces that it is investigating potential legal claims against the board of directors of Synergetics USA, Inc.
Reuters adds that the latest acquisition of Valeant follows its most recent acquisition, which is less than two weeks ago.
Based on roughly 25.4 million outstanding Synergetics shares, the deal values the company at about $165 million based on the initial tender…
Reuters has learned that Valeant has decided on which company it plans to buy for its eighth acquisition this 2015, and it is no other than ophthalmic surgical device maker Synergetics.
In addition to the upfront cash payment, Valeant noted that Synergetics stockholders will receive additional cash payments of up to $1.00 per share if specified sales milestones are achieved following the closing.
Synergetics sells microsurgical instruments, capital equipment and devices primarily for use in vitreoretinal surgery and neurosurgical applications. Valeant acquired the Bausch & Lomb eye care company for $8.7 billion in 2013. In August, it has paid $1 billion to purchase Sprout Pharmaceuticals.
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“The combined strengths of both companies will expand the breadth of our offerings and create a more effective competitor that is better able to meet our customers’ needs in the ophthalmology and neurosurgery markets”, said Synergetics President and CEO David Hable in a statement. That announcement came days after the Food and Drug Administration approved Sprout’s drug Addyi, the first prescription drug meant to boost sexual desire in women.
