Conceptus Inc.
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Conceptus Inc. (Nasdaq: CPTS) is an American medical products manufacturer and developer, now a fully owned subsidiary of Bayer AG of Germany.[1][2]
Founded in 1992, the corporation is headquartered in Mountain View, California. The company began development of micro-catheter and guidewire systems that allowed physicians to access and navigate the fallopian tubes using a non-incisional approach. While this technology was first used in products to diagnose or treat infertility, in 1998 the company focused on the design, development, and clinical testing of Essure, a non-incisional alternative to tubal ligation. Essure showed promise by eliminating the cutting, clipping, and burning associated with tubal ligation. After clinical testing, Conceptus began marketing Essure commercially in Australia, Singapore, Europe, and Canada. In 2002 the US Food and Drug Administration approved the use of Essure in the United States.[1]
On April 29, 2013, Bayer AG made a cash offer of $31.00 for Conceptus, a 20% premium to the companies stock market price, valuing it at $1.1bn.[2] The deal completed and closed on June 5, 2013.[1]
References
- ^ a b c "Essure Permanent Birth Control". U.S. Food and Drug Administration. Retrieved June 24, 2014.
- ^ a b "Bayer to buy contraceptive firm Conceptus". BBC News. April 29, 2013. Retrieved June 24, 2014.