CooperCompanies Acquires obp Medical
May 03 2021 - 4:15PM
CooperCompanies (NYSE: COO), today announced that CooperSurgical
has acquired obp Medical Corporation, a U.S. based medical device
company that develops and markets differentiated products including
single-use vaginal speculums with integrated LED illumination.
Commenting on the transaction, Al White, Cooper’s President and
CEO said, “This acquisition is a great strategic
fit that builds upon CooperSurgical‘s strong family of
OB/GYN medical devices. obp Medical’s differentiated
products will integrate seamlessly into our business and support
our mission of advancing women’s healthcare.”
The acquisition price is approximately $60 million, and the
products being acquired generated approximately $10 million of
trailing twelve-month revenue. The acquisition is expected to be
neutral to Cooper’s non-GAAP earnings per share in fiscal 2021.
About CooperCompaniesCooperCompanies ("Cooper")
is a global medical device company publicly traded on the NYSE
(NYSE: COO). Cooper operates through two business units,
CooperVision and CooperSurgical. CooperVision brings a refreshing
perspective on vision care with a commitment to developing a wide
range of high-quality products for contact lens wearers and
providing focused practitioner support. CooperSurgical is committed
to advancing the health of women, babies and families with its
diversified portfolio of products and services focusing on medical
devices and fertility & genomics. Headquartered in San Ramon,
CA, Cooper has a workforce of more than 12,000 with products sold
in over 100 countries. For more information, please visit
www.coopercos.com.
About obp Medical Corporationobp Medical
Corporation, headquartered in Lawrence, MA, is a privately held
medical device company that develops and markets single-use
illuminating medical devices. The company’s non-surgical product
portfolio includes a suite of single-use vaginal specula with
integrated LED lighting technology, as well as anoscopes,
laryngoscopes, endoscopic seals and other related kits and
accessories. These products are used in more than 13,000 physician
offices, clinics, surgery centers, and hospitals throughout the
U.S., and healthcare facilities worldwide. The company also
previously had a surgical division however this was spun off prior
to the acquisition. More information can be found at
www.obpmedical.com.
Forward Looking StatementsThis press release
contains "forward-looking statements" as defined by the Private
Securities Litigation Reform Act of 1995. Statements relating
to guidance, plans, prospects, goals, strategies, future actions,
events or performance and other statements of which are other than
statements of historical fact, including statements regarding the
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 entities or operations, as well as
estimates of our and obp Medical’s future expenses, sales and
diluted earnings per share are forward looking. In addition, all
statements regarding anticipated growth in our net sales and
anticipated market conditions, planned product launches and
expected results of operations are forward-looking. 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.
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 forward-looking statements can
be found in our Securities and Exchange Commission filings,
including under the “Business”, “Risk Factors” and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections in our most recent Annual Report on Form 10-K,
as such sections may be updated in our quarterly filings, copies of
which are available on the Company’s website: www.coopercos.com. 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.
Contact:Kim DuncanVice President, Investor Relations and Risk
Management925-460-3663ir@cooperco.com
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