Synergetics USA Inc. is being acquired by Valeant Pharmaceuticals International, a Quebec-based pharmaceutical firm.
Valeant will pay $6.50 per share in cash for Synergetics, an O’Fallon, Missouri-based medical device company. The deal would be worth about $166 million, based on the company’s outstanding shares as of June. In addition, Synergetics stockholders will receive another cash payment of up to $1 per share if specific sales milestones are achieved after the sale closes.
The deal is expected to close in the fourth quarter.