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Conceptus Inc. was an American medical products manufacturer and developer. It is now a fully owned subsidiary ofBayer AG ofGermany.[1][2]
Founded in 1992, the corporation had its headquarters inMountain View,California. The company began the development of micro-catheter and guidewire systems that allowed physicians to access and navigate thefallopian tubes using a non-incisional approach. While this technology was first used in products to diagnose or treatinfertility, in 1998, the company focused on the design, development, and clinical testing ofEssure, a non-incisional alternative totubal ligation.[3]
Essure showed promise by eliminating the cutting, clipping, and burning associated with tubal ligation. After clinical testing, Conceptus began marketing Essure commercially inAustralia,Singapore,Europe, andCanada. In 2002, theUS Food and Drug Administration approved the use of Essure in theUnited States.[1]
On April 29, 2013, Bayer AG made a cash offer of $31.00 per share for Conceptus, a 20% premium to the company's stock market price, valuing it at $1.1bn.[2] The deal was completed and closed on June 5, 2013.[1][4]