Drug developer Endo Pharmaceuticals Holdings Inc. is buying HealthTronics for $223 million in a move to expand its urology and diagnostic products, the companies said Wednesday.
Endo, based in Chadds Ford, Pa., said it will offer $4.85 per share, marking a 34 percent premium to HealthTronics’ closing price of $3.62 on Wednesday. Endo will also assume about $35 million in debt from the Austin, Texas, company. Both companies said their boards of directors approved the deal.