CooperCompanies Acquires obp Surgical, Expanding CooperSurgical’s Portfolio of Leading Medical Devices
August 01 2024 - 3:15PM
CooperCompanies (Nasdaq: COO), today announced that
CooperSurgical has acquired obp Surgical, a U.S.-based medical
device company with a suite of single-use cordless surgical
retractors with an integrated multi-LED light source and dual smoke
evacuation channels, and single-use surgical suction devices with
an integrated, cordless radial LED light source, for approximately
$100 million. The products being acquired generated approximately
$14.5 million of trailing twelve-month revenue. The acquisition is
expected to be neutral to Cooper’s non-GAAP earnings per share in
fiscal 2024 and accretive thereafter.
“This acquisition is a great strategic fit that builds upon
CooperSurgical’s strong portfolio of leading medical devices,” said
Al White, President and Chief Executive Officer of CooperCompanies.
“obp Surgical’s differentiated products will integrate seamlessly
into our business and allow us to provide clinicians with a broader
range of innovative surgical technologies.”
The acquisition of obp Surgical’s distinctive ONETRAC™ portfolio
of surgical retractors and suction devices complements
CooperSurgical’s existing surgical portfolio including INSORB®,
Lone Star®, and the Doppler Blood Flow Monitor.
“Our acquisition of obp Surgical demonstrates our commitment to
our customers, rooted in a dedication to upholding the highest
standards,” said Holly Sheffield, CooperSurgical President. “We are
excited for our growing surgical portfolio to reach new heights
with the addition of ONETRAC™ to the CooperSurgical product family,
all to help ensure that healthcare providers are well-equipped with
differentiated medical devices.”
CooperCompanies will report these assets as part of its Office
and Surgical category within the CooperSurgical business beginning
in its fiscal fourth quarter 2024.
About CooperCompaniesCooperCompanies (Nasdaq:
COO) is a leading global medical device company focused on
improving lives one person at a time. The Company operates through
two business units, CooperVision and CooperSurgical. CooperVision
is a trusted leader in the contact lens industry, improving the
vision of millions of people every day. CooperSurgical is a leading
fertility and women’s health company dedicated to assisting women,
babies and families at the healthcare moments that matter most.
Headquartered in San Ramon, CA, CooperCompanies (“Cooper”) has a
workforce of more than 15,000 with products sold in over 130
countries. For more information, please visit
www.coopercos.com.
About CooperSurgicalCooperSurgical is a leading
fertility and women's healthcare company dedicated to putting time
on the side of women, babies, and families at the healthcare
moments that matter most in life. CooperSurgical is at the
forefront of delivering innovative assisted reproductive technology
(ART) and genomic solutions that enhance the work of ART
professionals to the benefit of families. We currently offer over
600 clinically relevant medical devices to women's healthcare
providers, including testing and treatment options.
CooperSurgical is a wholly-owned subsidiary of CooperCompanies
(Nasdaq: COO). CooperSurgical, headquartered in Trumbull,
CT, produces and markets a wide array of products and services for
use by women's health care clinicians. More information can be
found at www.coopersurgical.com.
About obp Surgicalobp Surgical Corporation is
committed to delivering single-use, self-contained, cordless
illuminating surgical devices to improve and transform healthcare.
Our innovative products are used in surgery centers and hospital
operating rooms throughout the United States and worldwide. For
more information on obp Surgical Corporation and the ONETRAC™
product lines, please visit www.obpsurgical.com.
Forward-Looking StatementsThis press release
contains "forward-looking statements" as defined by the Private
Securities Litigation Reform Act of 1995. Statements relating to
plans, prospects, goals, strategies, future actions, events or
performance and other statement of which are other than statements
of historical fact, including statements regarding the benefits of
the acquisition of obp Surgical assets, synergies and strategic
plans related to the acquired business, and other financial
expectations related to the acquisition. To identify these
statements, look for words like "believes," "outlook," "probable,"
"expects," "may," "will," "should," "could," "seeks," "intends,"
"plans," "estimates" or "anticipates" and similar words or
phrases. Forward-looking statements necessarily depend on
assumptions, data or methods that may be incorrect or imprecise and
are subject to risks and uncertainties. Among the factors that
could cause actual results and future actions to differ materially
from those described in forward-looking statements are:
difficulties in integrating operations, adverse changes in the
global or regional general business, political and economic
conditions including the impact of continuing uncertainty and
instability of certain countries, man-made or natural disasters,
that could adversely affect our global markets, and the potential
adverse economic impact and related uncertainty caused by these
items; uncertainties in contractual relationships and pending
transactions; changes in legal and regulatory requirements; and
other factors described in the Securities and Exchange Commission
filings for CooperCompanies (Nasdaq: COO), including the Annual
Report on Form 10-K for the fiscal year ended October 31, 2023, as
such disclosures may be updated in annual and quarterly filings. We
caution investors that forward-looking statements reflect our
analysis only on their stated date. We disclaim any intent to
update them except as required by law.
Contacts:CooperCompanies Investor
Relations Kim DuncanVice President, Investor Relations and
Risk Management925-460-3663ir@cooperco.comCooperSurgical
Media Relationspr@coopersurgical.com
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