CooperCompanies’ business unit CooperSurgical has acquired obp Surgical, a US-based medical device company, in a deal valued at approximately $100m.
The deal will expand CooperSurgical’s portfolio with single-use surgical devices.
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obp Surgical has a single-use cordless surgical retractor suite with an integrated multi-LED light source and dual smoke evacuation channels. Its single-use surgical suction devices feature an integrated, cordless radial LED light source.
The acquired products generated around $14.5m in revenue over the past 12 months.
The integration of obp Surgical’s Onetrac suite into CooperSurgical’s product line is expected to be neutral to the non-GAAP earnings per share of Cooper in fiscal 2024 and accretive thereafter.
CooperCompanies president and CEO Al White said: “This acquisition is a great strategic fit that builds upon CooperSurgical’s strong portfolio of leading medical devices.
“obp Surgical’s differentiated products will integrate seamlessly into our business and allow us to provide clinicians with a broader range of innovative surgical technologies.”
The strategic move is expected to enhance CooperSurgical’s offerings, which already include products such as Lone Star, INSORB, and the Doppler blood flow monitor.
The new assets are planned to be reported under the Office and Surgical category within CooperSurgical from the fiscal fourth quarter of 2024.
CooperSurgical president Holly Sheffield said: “We are excited for our growing surgical portfolio to reach new heights with the addition of Onetrac to the CooperSurgical product family, all to help ensure that healthcare providers are well-equipped with differentiated medical devices.”
CooperCompanies operates through its business units, contact lenses specialist CooperVision and women’s health company CooperSurgical.
