2013 Medtech M&A Review: Bayer AG Conceives the Acquisition of Conceptus

By Clyde A. Burkhardt

Bayer, the $40 billion German giant, substantially enhanced its contraception product portfolio with the acquisition of U.S.-based Conceptus Inc. a developer of minimally invasive devices for reproductive medicine, for $1.1 billion (7.8x sales of $141 million and 39x EBITDA of $28.2 million. With the addition of Conceptus’s Essure nonsurgical, permanent birth-control procedure, Bayer now has a complete range of short- and long-term as well as permanent birth control products. Reportedly, the Essure product has proven to be 99.6% effective in clinical trials.

Clyde A. Burkhardt is senior managing director of HT Capital Advisors LLC (New York City), a private investment banking firm. He leads HT Capital Advisors' groups focusing on the medical device, healthcare services, and precision component industries. Contact Burkhardt at [email protected].