American Medical Systems (AMS) has announced it has agreed to acquire Laserscope, a company providing laser systems for medical and cosmetic uses, for a total of $715 million (384 million pounds).
Laserscope has recently developed technology for the treatment of benign prostatic hyperplasia, an enlargement of the prostate common in men over the age of 50, which will fit into AMS' existing pelvic and urology product lines. Laserscope also offers a range of cosmetic laser products, for the removal of unwanted hair, veins and wrinkles.
Martin J Emerson, president and chief executive officer of AMS, remarked: "The acquisition of Laserscope represents a truly strategic investment for AMS."
"With over thirty years' experience in delivering pelvic health solutions to urologists, the global reach of the combined AMS/Laserscope sales force will be uniquely positioned to capitalise on Laserscope's technology and market position," he added.
Eric Reuter, Laserscope's president and chief executive officer, concluded: "Through the new AMS, even greater numbers of men suffering from obstructive BPH around the world will benefit from the excellent clinical outcomes of the Laserscope GreenLight family of products."
AMS employs 600 people across the world, including some in its UK offices in Hanwell, Middlesex. The company was owned by Pfizer between 1985 and 1998, after which it was acquired by a group of investors. It has since developed new products for women's pelvic health.See all the latest jobs in Medical Devices