Sam Brusco, Associate Editor11.02.23
CooperCompanies has closed the acquisition of Cook Medical assets focused on obstetrics, doppler monitoring, and gynecology surgery. The deal was valued at $300 million.
The Cook Medical assets being acquired mainly include minimally invasive devices like the Bakri postpartum balloon, Cook’s cervical ripening balloon, the Doppler blood flow monitor portfolio, and select surgical products. The acquired technologies, according to Cook, generate about $56 million in annual revenue.
Cooper expects revenues from this transaction to grow 5-7% year-over-year. The transaction is also expected to be accretive to non-GAAP gross and operating margins and accretive to non-GAAP earnings per share by approximately $0.20.
“This acquisition is a fantastic strategic fit for CooperSurgical,” CooperCompanies president and CEO Al White told the press. “The acquired products are highly synergistic with CooperSurgical’s existing portfolio of medical devices and strengthen CooperSurgical’s position as a leading global fertility and women’s health company.”
The Cook Medical assets will become part of the Cooper’s Office and Surgical category within the CooperSurgical business. The transaction doesn’t include any fertility products contemplated in the original deal announced in February 2022.
The original deal for Cook Medical’s reproductive health business was valued at $875 million. The news for this $300 million deal comes about three months after the FTC announced the companies had abandoned the proposed deal, which the FTC had investigated for anti-competition.
The Cook Medical assets being acquired mainly include minimally invasive devices like the Bakri postpartum balloon, Cook’s cervical ripening balloon, the Doppler blood flow monitor portfolio, and select surgical products. The acquired technologies, according to Cook, generate about $56 million in annual revenue.
Cooper expects revenues from this transaction to grow 5-7% year-over-year. The transaction is also expected to be accretive to non-GAAP gross and operating margins and accretive to non-GAAP earnings per share by approximately $0.20.
“This acquisition is a fantastic strategic fit for CooperSurgical,” CooperCompanies president and CEO Al White told the press. “The acquired products are highly synergistic with CooperSurgical’s existing portfolio of medical devices and strengthen CooperSurgical’s position as a leading global fertility and women’s health company.”
The Cook Medical assets will become part of the Cooper’s Office and Surgical category within the CooperSurgical business. The transaction doesn’t include any fertility products contemplated in the original deal announced in February 2022.
The original deal for Cook Medical’s reproductive health business was valued at $875 million. The news for this $300 million deal comes about three months after the FTC announced the companies had abandoned the proposed deal, which the FTC had investigated for anti-competition.