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American Medical Systems Stage: Growth, Spin-outs Date of Investment: 1998 Web Site : http://www.visitams.com Stock Symbol : NASDAQ: AMMD |
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American Medical Systems, headquartered in Minnetonka, Minnesota, is the world leader in the development, manufacture and marketing of medical devices for the surgical treatment of urological and gynecological disorders. The company focuses on surgical products to address urinary incontinence, erectile dysfunction and prostate disease. The company was established in September 1998 when Warburg Pincus purchased the assets of AMS from Pfizer Inc. At the time of the acquisition, the company was experiencing a significant decline in sales of penile implants as a result of the introduction of the oral drug Viagra. This sharp decline in the market for the company's leading product line, which has since reversed, provided Warburg Pincus with an opportunity to acquire this highly profitable platform company at an attractive price. Shortly after the investment, Warburg Pincus recruited Douglas W. Kohrs to become the new C.E.O. Under Kohrs' leadership, AMS has continued to build on its strong position among surgical urologists while broadening its customer base to include opinion-leading gynecological surgeons. Through a series of strategic acquisitions, enhanced by internal product development programs, the company has become the leading innovator in the development of less-invasive techniques for both urological and gynecological surgery.
