Medical device company CooperCompanies has agreed to acquire life sciences company Generate Life Sciences for around $1.6bn.

Generate Life Sciences, which will be included in CooperSurgical, offers reproductive, newborn stem cell, genetic screening, medical device, and healthcare technology services.

Generate CEO Richard Jennings said: “Over the past several years, our company has transformed into a global life sciences organisation supporting clients looking to build and protect their families. Our affiliation with GI Partners was the catalyst to accelerate the growth of the company.”

Generate’s suite of products and services are said to complement the current offerings of CooperSurgical in both fertility solutions and labour and delivery.

Generate Life’s brands consist of CBR (Cord Blood Registry), California Cryobank, Donor Egg Bank USA, NW Cryobank, ReadyGen, Kitazato USA, and Donor Application.

The combined business will deliver additional options to fertility clinics and healthcare providers to better assist their patients during their assisted reproductive technology treatment and beyond.

Cooper president and CEO Al White said: “This acquisition is a strong strategic fit for CooperSurgical as it allows us to better serve fertility clinics and Ob/Gyns with a more extensive suite of products and services.

“As a leader in women’s healthcare, this is an important addition to our existing offerings and allows us to leverage our infrastructure and expertise, including our sales forces’ strong clinical reputation and educational capabilities.”

Subject to customary closing conditions including regulatory approval, the transaction is expected to be completed in Cooper’s first fiscal quarter of next year.

In May this year, CooperSurgical acquired US-based medical device company obp Medical, which offers single-use illuminating medical devices.