CooperCompanies has announced the acquisition of obp Medical by CooperSurgical, one of its business units. obp Medical is 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.”
Medical obp’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.
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.
CooperCompanies is a publicly traded global medical device company, that 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.