Bayer HealthCare has agreed to acquire US-based Conceptus in a deal that values the company at approximately US$1.1 B. With the acquisition, Bayer will gain Conceptus’ sole marketed product Essure®, a non-surgical, hormone-free permanent birth control method for women that was approved by the US FDA in 2002. The offer price represents a premium of 19.7% over Conceptus’ closing price prior to the announcement of the transaction. Bayer is the leading player in the contraceptives market but is facing generic competition on its blockbuster Yaz® (drospirenone/ethinyl oestradiol) franchise.