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USD ($)
USD ($) / shares
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<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>14. Subsequent Events</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt"><i>Pending Merger with Endo Pharmaceuticals Holdings, Inc.</i>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">On April 10, 2011, we entered into a definitive agreement with Endo Pharmaceuticals Holdings, Inc.
(Endo) under which a wholly-owned indirect subsidiary of Endo will merge with and into American
Medical Systems Holdings, Inc. and the outstanding common shares of American Medical Systems
Holdings, Inc. will be cancelled in exchange for $30 per share. The aggregate purchase price for
the merger is approximately $2.9 billion in cash, which includes the assumption and repayment of
$312 million of principal on our convertible debt. The transaction is subject to
approval of our stockholders and clearance by the relevant antitrust authorities, as well as other
customary conditions, and is expected to close in the third quarter of 2011.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><i>Termination of Credit Facility</i>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">On April 12, 2011, AMS and each of our majority-owned domestic subsidiaries, terminated in whole
the Credit and Guaranty Agreement with CIT Healthcare LLC, as administrative agent, dated July 20,
2006. There were no outstanding borrowings under the Credit Facility at the time of termination
and no early termination penalties were incurred.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><i>2011 Senior Secured Revolving Credit Facility</i>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">On April 15, 2011, we and our wholly owned subsidiary American Medical Systems, Inc., entered into
a Revolving Credit Facility with JPMorgan Chase Bank, N.A., as Administrative Agent, PNC Bank,
National Association, as Syndication Agent and U.S. Bank National Association, as Documentation
Agent (see <i>Notes to Consolidated</i>
<i>Financial Statements — No. 9, Debt</i>). The Revolving Credit
Facility provides a $250 million five-year senior secured line of credit maturing on April 15,
2016. There are no borrowings outstanding under the Revolving Credit Facility.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt"><i>Voluntary
recall of the control pump component of the AMS
800<sup style="font-size: 85%; vertical-align: text-top">®</sup>
Artificial Urinary Sphincter</i>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">On May 9,
2011, we initiated a voluntary recall of the control pump component
of the <i>AMS
800<sup style="font-size: 85%; vertical-align: text-top">®</sup></i>
Artificial Urinary Sphincter, a men’s health incontinence
product. Based upon a review of our product test procedures, we are
unable to confirm that all control pumps have met our requirements.
We have not received any confirmed reports of device malfunction
attributable to this concern and we believe the likelihood of a
serious adverse health consequence is remote.
</div>
</div>
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