You may or may not have heard of the product but it is a device that functions like having one’s tubes tied to prevent an egg from traveling via the fallopian tubes except the procedure can be performed in the doctor’s
office and it is a permanent solution. Essure is the name of the product and it has been around for while. This was a bidding situation where Bayer won the bid and is paying a pretty good price for the company and Bayer has it’s own contraception products, Yaz for one so it would seem this company would be in the same product group. BD
Bayer AG (BAYN) agreed to buy Conceptus Inc. (CPTS) for about $1.1 billion in cash to add a permanent contraception device to complement the German company’s offerings in women’s health.
Revenue for Conceptus’s Essure contraceptive, a pair of flexible metal and fiber coils inserted in the fallopian tubes, jumped 22 
percent in the first quarter. The planned acquisition comes at a time when sales of Leverkusen, Germany-based Bayer’s Yaz and Yasmin oral birth-control pills are falling because of competition from low-priced copies. Bayer also sells the Natazia pill and intrauterine devices such as Mirena.
Bayer will probably need to promote Essure, expanding its global reach, to justify the price of the acquisition, Alistair Campbell, an analyst at Berenberg Bank in London, said in a telephone interview.
U.S. regulators approved the device in 2002. It provides permanent contraception, much in the way tubal ligation does. Unlike that procedure, though, it requires neither surgery nor general anesthesia.
http://www.bloomberg.com/news/2013-04-29/bayer-to-buy-conceptus-to-add-contraceptive-procedure.html
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