Endo Pharmaceuticals Announces Proposal to Change Name of Parent Company and Rebrands Enterprise: Revealing an Innovative Corporate Structure Dedicated to Redefining Healthcare Value
Four operating companies will provide integrated solutions across various treatment delivery platforms: branded pharmaceuticals, generic drugs, medical devices and services
CHADDS FORD, Pa., March 1, 2012 /PRNewswire/ -- Endo (Nasdaq: ENDP), a diversified healthcare solutions company, today announced the aggregation of its operating companies as part of an enterprise-wide branding initiative. The integration of its diversified operating companies and the introduction of its new corporate identity reflect the company's significant transformation as a result of a series of recent strategic acquisitions and business development decisions.
In connection with this initiative, Endo Pharmaceuticals Holdings Inc., the parent company, will ask its shareholders to approve changing its name to Endo Health Solutions Inc. at its annual meeting of shareholders in May 2012.
With a uniquely diversified foundation of complementary healthcare businesses within well-defined therapeutic areas, the new Endo is structured to provide integrated, end-to-end solutions in pain management and urology. The vision is to approach therapeutic areas and disease states as pathways, and to identify, develop and incorporate medical interventions beyond the traditional chemical and biological treatments.
The company will deliver various products and services through its four operating companies: AMS, a developer of innovative medical devices; Endo Pharmaceuticals, a provider of branded pharmaceuticals; HealthTronics, a provider of medical services, practice management software, laboratory solutions and EHR technology; and Qualitest, a manufacturer of high-quality generic pharmaceuticals.
"With the right organizations in place, we have modernized our four distinct operating companies into one enterprise that reflects a powerful combination of compatible organizations aimed at delivering fully integrated healthcare solutions for the benefit of physicians, payers and patients," said Dave Holveck, President and CEO of Endo. "We are excited to be setting a new standard for healthcare solutions delivery. Our parent company's new name, which we propose to be 'Endo Health Solutions Inc.' should help clarify our corporate identity, making it clear to people how to refer to our operating companies and how to refer to the parent company," he said.
Mr. Holveck, who took the helm of Endo Pharmaceuticals in 2008, worked with the board of directors to set a new strategic direction for that company. This new vision required the reinvention of the company's business model with deeper immersion in key therapeutic pathways and greater offerings that could capitalize on the intersection of healthcare access, economics and outcomes.
This unique approach to aggregating healthcare information and treatments opens the door to greater levels of innovation and collaboration among the operating companies and their customers, in an effort to meet the varying needs of all stakeholders in the healthcare system: patients, physicians and payers.
"Our philosophy of combining branded drugs, generic drugs, devices and services, including diagnostics and data, aims to create maximum choice and value for all participants in the healthcare continuum, and our strategy is founded in the balance of cost and benefit," continued Mr. Holveck. "A key focus for the next several years will be fully integrating these solutions into true, packaged offerings and filling the existing gaps in pain and urology management."
The new enterprise architecture and naming structure is an appropriate representation of the framework of operations and enables the company to leverage the well-known brand equity that exists with each operating company, while supporting efforts toward continually becoming more customer-focused. The operating companies' franchise brands will share visual and verbal identity standards to the parent brand:
- AMS, which develops structural device therapies to restore bodily functions and to enable people to regain control of their lives, will operate as the company's medical devices arm.
- Endo Pharmaceuticals, which has long been associated with high-quality branded products and certain specialty generics, will function as the branded pharmaceuticals-focused operating unit of the enterprise.
- HealthTronics, a leading provider of genitourinary pathology (diagnostics) and other services such as cryotherapy and lithotripsy, will operate as the primary medical services partner for urologists and their practices. In addition, the recent acquisitions of MeridianEHR and UroChart, providers of EHR technology and physician practice management software, will be incorporated under the HealthTronics business line.
- Qualitest, the sixth largest provider of generic medication in the U.S., will continue to manufacture high-quality generic pharmaceuticals that provide new options (tablets, caplets and liquids) for patients, providers and payers in the pain and women's health areas.
The next step will be to ask shareholders for their approval of the proposed new name at the annual meeting in May 2012. Shareholders will be notified through the company's proxy statement of the proposed change.
Endo Pharmaceuticals Holdings Inc. (Endo) is a US-based diversified healthcare company that is redefining healthcare value by finding solutions for the unmet needs of patients along care pathways for pain management, pelvic health, urology, endocrinology and oncology. Through our operating companies: AMS, Endo Pharmaceuticals, HealthTronics and Qualitest, Endo is dedicated to improving care through a combination of branded products, generics, devices, technology and services that creates maximum value for patients, providers and payers alike. Learn more at www.endo.com.
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THE ADOPTION OF THIS NAME IS SUBJECT TO SHAREHOLDER APPROVAL.
WE ARE NOT SOLICITING AND WILL NOT ACCEPT ANY PROXIES AT THIS TIME, BUT WILL DO SO IN THE ORDINARY COURSE OF HOLDING OUR ANNUAL MEETING IN MAY. WE URGE ALL SHAREHOLDERS TO READ OUR PROXY STATEMENT BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSAL. OUR PROXY MATERIALS WILL BE AVAILABLE TO SHAREHOLDERS FREE OF CHARGE FROM US IN APRIL 2012 AND AT THE SECURITIES AND EXCHANGE COMMISSION'S (SEC) WEBSITE.
SOURCE Endo Pharmaceuticals Holdings Inc.
Investors/Media: Blaine Davis, +1-610-459-7158; or Media: Kevin Wiggins, +1-610-459-7281