Endo Pharma Completes Tender Offer For HealthTronics

NEW YORK (AP) -- Endo Pharmaceuticals Holdings Inc. said Friday it completed its tender offer for shares of HealthTronics Inc., and expects to complete its $223 million purchase of the Texas company later this month.

HealthTronics, which is based in Austin, Texas, makes treatments for an enlarged prostate and prostate cancer, among other products.

Endo, of Chadds Ford, Pa., said 93.4 percent of HealthTronics shares were tendered and not withdrawn as of Thursday afternoon. It will make an offer for the remaining shares on July 9, and expects the sale to close the week of July 12.

On May 5, Endo said it would buy HealthTronics in a deal that valued the stock at $4.85 per share. Endo will take on about $35 million in debt as part of the acquisition.

HealthTronics will become part of Endo after the deal closes, and its shares will no longer be publicly traded.

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