The Bayer Group has announced it has acquired a majority interest in Conceptus, Inc., for approximately $1.1 billion.
With its takeover bid for Conceptus successful, Bayer intends to merge the company with a Bayer subsidiary.
Bayer is a global company based in Leverkusen, Germany, which has its core competencies in healthcare, agriculture and high-tech materials.
Conceptus, based in Mountain View, Calif., develops and commercializes device-based solutions in permanent birth control, including the Essure permanent birth control system.
While both parties are publicly traded, it is noteworthy for PE and VC investors due to the size of the transaction and potential impact on other healthcare subsectors.