Cook Medical’s reproductive health business, which reported annual revenues of up to $158m in the last calendar year, is involved in the manufacturing of minimally invasive medical devices for the fertility, obstetrics and gynaecology markets
Cook Medical's Reproductive Health product line. (Credit: Business Wire)
Medical device company CooperCompanies has agreed to acquire Cook Medical’s reproductive health business in a deal valued at around $875m.
The transaction includes the payment of $675m at closing, as well as $200m in four annual installments.
Cook Medical’s reproductive health business is involved in the manufacturing of minimally invasive medical devices for the fertility, obstetrics and gynaecology markets.
The business reported annual revenues of up to $158m in the last calendar year.
CooperCompanies president and CEO Al White said: “We’re improving our international fertility footprint, especially within the Asia-Pacific region, and adding highly synergistic and respected labor and delivery devices to our ObGyn portfolio.
“These high-quality products will integrate seamlessly into our business and support CooperSurgical’s vision of a world with healthy women, babies and families.”
William Cook Australia, Cook Spencer, and Cook Vandergrif are involved in the manufacturing of reproductive health devices.
Upon completion of the deal, Cook will continue to produce products for CooperSurgical during a two-year transition period and will increase manufacturing capacity to meet the growing requirements.
Cook Medical and Cook Group president Pete Yonkman said: “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.”
The deal is subject to compliance with applicable local consultation obligations and regulatory approvals.
In December last year, CooperCompanies wrapped up the acquisition of life sciences company Generate Life Sciences for a purchase price of around $1.6bn.