MINNEAPOLIS, May 9 (UPI) -- American Medical Systems said Tuesday it has bought privately held Solarant Medical for an undisclosed price.
AMS said Solarant develops minimally invasive therapies for women who suffer from stress urinary incontinence.
The company said its purchase price included an initial payment and the potential for future payments linked to milestones such as product approvals and the establishment of reimbursement codes applicable to both the hospital and office settings.
AMS said it has already paid $1 million toward development of Solarant products.
"Office-based incontinence therapy will be the means by which physicians will ultimately reach a significantly greater number of the 80 million women around the world suffering from stress incontinence," said AMS Chief Executive Officer Martin Emerson. "We at AMS are eager to actively advance the development activities to this end based upon the solid foundation of the Solarant intellectual property portfolio and product concepts," he said.
