Press release
CooperCompanies Acquires obp Surgical, Expanding CooperSurgical’s Portfolio of Leading Medical Devices
SAN RAMON, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), today announced that CooperSurgical has acquired obp Surgical, a
About this update from The Cooper Companies, Inc.
[{"type":"text","content":"SAN RAMON, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- 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. Head...