Sam Brusco, Associate Editor02.08.22
Cook Medical began a deal to sell its reproductive health business to CooperCompanies. CooperCompanies will pay $875 million for the franchise—comprised of $675 million at closing and $200 million paid in four annual installments.
Cook has been developing products for OB/GYN, in-vitro fertilization (IVF), and assisted reproductive technology (ART) for over 40 years.
“Our history with reproductive health has been full of innovations to help patients fulfill their dreams of having a family,” D.J. Sirota, senior VP of Cook Medical’s MedSurg specialty told the press. “This agreement represents more than a simple transaction; it is a commitment to offer a more complete range of solutions to customers and patients around the world. CooperSurgical is uniquely positioned to combine Cook’s reproductive health portfolio with their resources and plans to significantly invest in this product portfolio.”
After the deal’s close, Cook will continue to make products for CooperSurgical over a two-year transition period and increase manufacturing capacity. CooperCompanies claims no manufacturing jobs are at risk due to this deal.
“Like we always have been, we remain committed to the communities where we have facilities and employees, including Spencer, Vandergrift, and Brisbane where these products are manufactured,” said Pete Yonkman, president of Cook Medical and Cook Group. “This agreement will allow us to invest in future growth and new technologies. The rest of the Cook organization will continue as privately held, family-owned companies with no plans to change that status.”
Cook has been developing products for OB/GYN, in-vitro fertilization (IVF), and assisted reproductive technology (ART) for over 40 years.
“Our history with reproductive health has been full of innovations to help patients fulfill their dreams of having a family,” D.J. Sirota, senior VP of Cook Medical’s MedSurg specialty told the press. “This agreement represents more than a simple transaction; it is a commitment to offer a more complete range of solutions to customers and patients around the world. CooperSurgical is uniquely positioned to combine Cook’s reproductive health portfolio with their resources and plans to significantly invest in this product portfolio.”
After the deal’s close, Cook will continue to make products for CooperSurgical over a two-year transition period and increase manufacturing capacity. CooperCompanies claims no manufacturing jobs are at risk due to this deal.
“Like we always have been, we remain committed to the communities where we have facilities and employees, including Spencer, Vandergrift, and Brisbane where these products are manufactured,” said Pete Yonkman, president of Cook Medical and Cook Group. “This agreement will allow us to invest in future growth and new technologies. The rest of the Cook organization will continue as privately held, family-owned companies with no plans to change that status.”