obp Medical develops and markets single-use illuminating medical devices
CooperSurgical has acquired medical device company obp Medical. (Credit: Akshay93 from Pixabay)
CooperSurgical, a business unit of CooperCompanies, has acquired US-based medical device company obp Medical for around $60m.
Based in Lawrence of Massachusetts, obp Medical is engaged in the development and marketing of single-use illuminating medical devices.
obp Medical offers various products, including a suite of single-use vaginal specula with integrated LED lighting technology, anoscopes, laryngoscopes, endoscopic seals and other related kits and accessories.
The company’s products are used in over 13,000 physician offices, clinics, surgery centres and hospitals across the US and healthcare facilities globally.
Earlier, the company managed a surgical division and it was spun off prior to the acquisition.
Cooper stated that the acquisition is expected to be neutral to the company’s non-GAAP earnings per share in fiscal 2021.
Cooper president and CEO Al White 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.”
In February this year, CooperSurgical acquired US-based AEGEA Medical that manufactures Mara water vapour ablation system, which is approved by the US Food and Drug Administration (FDA).
Based in San Ramon of California, CooperCompanies operates two business units – CooperVision and CooperSurgical.
With more than 12,000 employees, the group markets its products in over 100 countries across the globe.