The Work

April 11, 2011 2:09 PM

Endo Turns to Skadden on $2.9 Billion American Medical Systems Buy

Posted by Brian Baxter

Endo Pharmaceuticals announced its third acquisition in 12 months with an agreement to buy American Medical Systems on Monday, according to The New York Times.

Endo, a Chadds Ford, Pa.-based pharmaceutical company that specializes in pain management and cancer treatments, announced plans to buy urological medical devices maker American Medical for $2.9 billion in cash and the assumption of debt. American Medical makes products for erectile dysfunction, incontinence, and enlarged prostate.

Skadden, Arps, Slate, Meagher & Flom M&A partners Eileen Nugent and Brandon Van Dyke, corporate finance cohead Stacy Kanter, and antitrust partner Clifford Aronson are leading a team from the firm advising Endo on the deal. The firm has been a longtime legal adviser to Endo, which was formed as a spin-off from DuPont Merck in 1997, especially over the past year.

Last September, Skadden advised Endo on its $1.2 billion acquisition of Qualitest Pharmaceuticals, the nation's sixth-largest manufacturer of generic drugs, from private equity firm Apax Partners. Skadden's Nugent was named an Am Law Daily Dealmaker of the Week for her role leading a team from the firm on that deal. (ALM Media, LLC, publisher of The Am Law Daily, is owned in part by Apax.)

Nugent and Skadden also handled Endo's $223 million acquisition of HealthTronics in May 2010 and the company's $370 million purchase of Indevus Pharmaceuticals in January 2009. Endo's general counsel is Caroline Manogue, a Skadden alum. Roger Kimmel, Endo's chairman and director, was previously a partner at Latham & Watkins.

Minnetonka, Minn.-based American Medical turned to Latham for outside counsel. Corporate partners Charles Ruck and R. Scott Shean in Costa Mesa, Calif., are leading a team from the firm advising American Medical that includes global M&A cochair M. Adel Aslani-Far, employee benefits partner James Barrall, finance chair Daniel Seale, antitrust cochair Michael Egge, tax partner Pardis Zomorodi, environmental partner Christopher Norton, regulatory partner J. Benneville Haas, and litigation partner Alice Fisher handling compliance work.

Jeanne Forneris serves as American Medical's general counsel. Endo's acquisition is expected to close in the third quarter of this year.

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