SAN RAMON, CA May 3, 2021 (GLOBE NEWS) – CooperCompanies (NYSE: COO) today announced that CooperSurgical has acquired obp Medical Corporation, a US medical device company that develops and markets differentiated products including disposable vaginal speculums with integrated LED lighting.
Commenting on the deal, Al White, President and CEO of Cooper, said: “This acquisition is an excellent strategic choice, building on the strong CooperSurgical family of obstetric and gynecological devices. Obp Medical’s differentiated products integrate seamlessly into our business and support our mission to advance women’s health. ”
The purchase price is approximately $ 60 million and the products acquired generated approximately $ 10 million in interim revenues over twelve months. The acquisition is expected to be neutral to Cooper’s non-GAAP earnings per share in fiscal 2021.
CooperCompanies (“Cooper”) is a global medical device company, listed on the NYSE (NYSE: COO). Cooper operates through two business divisions: CooperVision and CooperSurgical. CooperVision offers a fresh perspective on vision care, striving to develop a wide range of high quality products for contact lens wearers and to provide targeted support to healthcare practitioners. CooperSurgical is committed to improving the health of women, babies and families through its diversified portfolio of products and services focused on medical devices, fertility and genomics. Headquartered in San Ramon, California, Cooper has over 12,000 employees and is sold in over 100 countries. For more information please visit www.coopercos.com…
About obp Medical Corporation
Obp Medical Corporation, headquartered in Lawrence, Massachusetts, is a privately held medical device company that develops and markets disposable medical lighting devices. The company’s non-surgical product portfolio includes a set of disposable vaginal funnels with integrated LED lighting technology, as well as anoscopes, laryngoscopes, endoscopic fillings and other related kits and accessories. These products are used in more than 13,000 doctors’ offices, clinics, surgery centers and hospitals throughout the United States, as well as healthcare facilities around the world. The company also previously had a surgical division, but this was spun off prior to the acquisition. More information can be found at www.obpmedical.com.
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Statements regarding recommendations, plans, prospects, goals, strategies, future actions, events or results of operations, as well as other statements other than statements of historical fact, including statements of acquisition of obp Medical, including financial position, market position, product development and business strategy, expected cost synergies, expected timing and benefits of the transaction, difficulties in integrating organizations or operations, and our estimates and projected future costs, sales and diluted earnings per share of obp Medical. In addition, all statements regarding expected growth in our net sales and expected market conditions, planned product launches and expected operating results are forward-looking. To identify these statements, look for words such as “believes”, “forecast”, “likely”, “expects”, “may”, “will”, “should”, “might”, “seeks”, “intends” , “Plans”. , “Evaluates” or “expects” and similar words or phrases. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or inaccurate and are subject to risks and uncertainties.
Detailed descriptions of a number of important risk factors that could cause our actual results and future actions to differ materially from those described in the forward-looking statements can be found in our SEC filings, including the “ Business “,” Risk Factors “. ”And“ Management’s Discussion and Analysis of Financial Condition and Results of Operations ”in our most recent Form 10-K Annual Report, as such sections may be updated in our quarterly reports, copies of which are available on the Company’s website: www. .coopercos.com. We caution investors that the forward-looking statements reflect our analysis as of their stated date only. We disclaim any intention of updating them, except as required by law.
Vice President, Investor Relations and Risk Management