CooperCompanies Acquires obp Surgical, Expanding CooperSurgical’s Portfolio of Leading Medical Devices
CooperCompanies (Nasdaq: COO) has announced the acquisition of obp Surgical, a U.S.-based medical device company, for approximately $100 million. This strategic move expands CooperSurgical's portfolio with obp's suite of single-use cordless surgical retractors and suction devices, which generated around $14.5 million in trailing twelve-month revenue. The acquisition is expected to be neutral to Cooper's non-GAAP earnings per share in fiscal 2024 and accretive thereafter.
The integration of obp Surgical's ONETRAC™ portfolio complements CooperSurgical's existing surgical products, including INSORB®, Lone Star®, and the Doppler Blood Flow Monitor. This acquisition aligns with CooperCompanies' commitment to providing clinicians with a broader range of innovative surgical technologies and is set to be reported as part of its Office and Surgical category within the CooperSurgical business starting in fiscal Q4 2024.
CooperCompanies (Nasdaq: COO) ha annunciato l'acquisizione di obp Surgical, un'azienda americana di dispositivi medici, per circa 100 milioni di dollari. Questa mossa strategica espande il portfolio di CooperSurgical con la gamma di retrattori chirurgici cordless e dispositivi di aspirazione monouso di obp, che hanno generato circa 14,5 milioni di dollari di fatturato negli ultimi dodici mesi. Si prevede che l'acquisizione sarà neutra per gli utili non-GAAP per azione di Cooper nell'esercizio fiscale 2024 e accretiva successivamente.
L'integrazione del portfolio ONETRAC™ di obp Surgical completa i prodotti chirurgici esistenti di CooperSurgical, tra cui INSORB®, Lone Star® e il Monitor del Flusso Sanguigno Doppler. Questa acquisizione è in linea con l'impegno di CooperCompanies di fornire ai clinici una gamma più ampia di tecnologie chirurgiche innovative e verrà riportata come parte della sua categoria Office e Surgical all'interno del business CooperSurgical a partire dal quarto trimestre fiscale 2024.
CooperCompanies (Nasdaq: COO) ha anunciado la adquisición de obp Surgical, una empresa estadounidense de dispositivos médicos, por aproximadamente 100 millones de dólares. Este movimiento estratégico amplía el portafolio de CooperSurgical con la gama de retractores quirúrgicos inalámbricos desechables y dispositivos de succión de obp, que generaron alrededor de 14,5 millones de dólares en ingresos en los últimos doce meses. Se espera que la adquisición sea neutra para las ganancias no-GAAP por acción de Cooper en el ejercicio fiscal 2024 y acumulativa a partir de entonces.
La integración del portafolio ONETRAC™ de obp Surgical complementa los productos quirúrgicos existentes de CooperSurgical, que incluyen INSORB®, Lone Star® y el Monitor de Flujo Sanguíneo Doppler. Esta adquisición está alineada con el compromiso de CooperCompanies de proporcionar a los clínicos una gama más amplia de tecnologías quirúrgicas innovadoras y se reportará como parte de su categoría de Office y Surgical dentro del negocio de CooperSurgical a partir del cuarto trimestre fiscal de 2024.
CooperCompanies (Nasdaq: COO)는 미국의 의료 기기 회사인 obp Surgical을 약 1억 달러에 인수한다고 발표했습니다. 이 전략적 조치는 obp의 일회용 무선 외과용 리트랙터와 흡입 장치 제품군을 통해 CooperSurgical의 포트폴리오를 확장하며, 이는 지난 12개월 동안 약 1,450만 달러의 매출을 기록했습니다. 인수는 2024 회계연도에 Cooper의 비GAAP 주당순이익에 중립적일 것으로 예상되며, 이후에는 증가세를 보일 것으로 예상됩니다.
obp Surgical의 ONETRAC™ 포트폴리오 통합은 INSORB®, Lone Star® 및 도플러 혈류 모니터를 포함한 CooperSurgical의 기존 외과 제품을 보완합니다. 이 인수는 클리닉에 혁신적인 외과 기술의 더 넓은 범위를 제공하겠다는 CooperCompanies의 헌신과 일치하며, 2024 회계연도 4분기부터 CooperSurgical 사업의 오피스 및 외과 부문에 포함되어 보고될 예정입니다.
CooperCompanies (Nasdaq: COO) a annoncé l'acquisition d'obp Surgical, une entreprise américaine de dispositifs médicaux, pour environ 100 millions de dollars. Ce mouvement stratégique élargit le portefeuille de CooperSurgical avec la gamme de rétracteurs chirurgicaux sans fil et de dispositifs d'aspiration jetables d'obp, qui ont généré environ 14,5 millions de dollars de revenus au cours des douze derniers mois. L'acquisition devrait être neutre pour le bénéfice par action non-GAAP de Cooper pour l'exercice fiscal 2024 et accrétive par la suite.
L'intégration du portefeuille ONETRAC™ d'obp Surgical complète les produits chirurgicaux existants de CooperSurgical, y compris INSORB®, Lone Star® et le Moniteur de Flux Sanguin Doppler. Cette acquisition s'inscrit dans l'engagement de CooperCompanies à proposer aux cliniciens une gamme plus large de technologies chirurgicales innovantes et sera rapportée comme faisant partie de sa catégorie Bureau et Chirurgical dans le cadre de l'activité CooperSurgical à partir du quatrième trimestre de l'exercice fiscal 2024.
CooperCompanies (Nasdaq: COO) hat die Übernahme von obp Surgical, einem in den USA ansässigen Medizintechnikunternehmen, für etwa 100 Millionen US-Dollar angekündigt. Dieser strategische Schritt erweitert das Portfolio von CooperSurgical um die Produktreihe von obp, die aus einwegfreien chirurgischen Retraktoren und Sauggeräten besteht, die in den letzten zwölf Monaten einen Umsatz von etwa 14,5 Millionen US-Dollar erzielt haben. Die Übernahme wird voraussichtlich neutral für die Non-GAAP-Ergebnisse je Aktie von Cooper im Geschäftsjahr 2024 sein und danach gewinnbringend sein.
Die Integration des ONETRAC™ Portfolios von obp Surgical ergänzt die bestehenden chirurgischen Produkte von CooperSurgical, einschließlich INSORB®, Lone Star® und des Doppler Blutflussmonitors. Diese Übernahme steht im Einklang mit dem Engagement von CooperCompanies, Kliniken eine breitere Palette innovativer chirurgischer Technologien anzubieten, und wird ab dem vierten Finanzquartal 2024 als Teil der Kategorien Office und Surgical im Geschäft von CooperSurgical berichtet.
- Acquisition expands CooperSurgical's portfolio with innovative single-use surgical devices
- Expected to be accretive to non-GAAP earnings per share after fiscal 2024
- Adds $14.5 million in trailing twelve-month revenue to CooperCompanies
- Strengthens CooperSurgical's position in the surgical device market
- Acquisition cost of $100 million may impact short-term cash position
- Neutral impact on non-GAAP earnings per share in fiscal 2024
Insights
CooperCompanies' acquisition of obp Surgical for
- obp Surgical's trailing twelve-month revenue of
$14.5 million implies a price-to-sales ratio of about 6.9x, which is relatively high for the medical device industry. This suggests CooperCompanies sees significant growth potential or synergies in the acquisition. - The deal is expected to be neutral to Cooper's non-GAAP EPS in fiscal 2024 and accretive thereafter, indicating a careful financial strategy that prioritizes long-term value creation over immediate earnings impact.
- The integration of obp Surgical's products into CooperSurgical's portfolio could potentially drive cross-selling opportunities and enhance market penetration, potentially boosting overall revenue growth for the segment.
From a financial perspective, while the acquisition price might seem steep relative to current revenues, the strategic fit and potential for synergies could justify the valuation. Investors should monitor the integration process and any resulting revenue acceleration in the coming quarters to gauge the deal's success.
The acquisition of obp Surgical by CooperCompanies is a significant move in the medical device industry, particularly in the surgical equipment sector. Here's why this deal stands out:
- obp Surgical's ONETRAC™ portfolio features innovative single-use cordless surgical retractors with integrated multi-LED light sources and dual smoke evacuation channels. This addresses multiple surgical needs in a single device, potentially improving efficiency and reducing complexity in the operating room.
- The inclusion of single-use surgical suction devices with integrated, cordless radial LED light sources further enhances the product line's appeal. The single-use nature of these devices aligns with the growing trend towards disposable surgical instruments, which can reduce the risk of cross-contamination and simplify sterilization processes.
- By integrating these products into its existing portfolio, CooperSurgical is positioning itself as a more comprehensive provider of surgical solutions. This could strengthen its competitive position against other major players in the surgical device market.
The strategic fit of obp Surgical's products with CooperSurgical's existing offerings like INSORB®, Lone Star® and the Doppler Blood Flow Monitor creates a more robust and diverse product lineup. This diversification could help CooperCompanies better weather market fluctuations and potentially capture a larger share of hospital and surgical center budgets.
SAN RAMON, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), today announced that CooperSurgical has acquired obp Surgical, a U.S.-based medical device company with a suite of single-use cordless surgical retractors with an integrated multi-LED light source and dual smoke evacuation channels, and single-use surgical suction devices with an integrated, cordless radial LED light source, for approximately
“This acquisition is a great strategic fit that builds upon CooperSurgical’s strong portfolio of leading medical devices,” said Al White, President and Chief Executive Officer of CooperCompanies. “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 acquisition of obp Surgical’s distinctive ONETRAC™ portfolio of surgical retractors and suction devices complements CooperSurgical’s existing surgical portfolio including INSORB®, Lone Star®, and the Doppler Blood Flow Monitor.
“Our acquisition of obp Surgical demonstrates our commitment to our customers, rooted in a dedication to upholding the highest standards,” said Holly Sheffield, CooperSurgical President. “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 will report these assets as part of its Office and Surgical category within the CooperSurgical business beginning in its fiscal fourth quarter 2024.
About CooperCompanies
CooperCompanies (Nasdaq: COO) is a leading global medical device company focused on improving lives one person at a time. The Company operates through two business units, CooperVision and CooperSurgical. CooperVision is a trusted leader in the contact lens industry, improving the vision of millions of people every day. CooperSurgical is a leading fertility and women’s health company dedicated to assisting women, babies and families at the healthcare moments that matter most. Headquartered in San Ramon, CA, CooperCompanies (“Cooper”) has a workforce of more than 15,000 with products sold in over 130 countries. For more information, please visit www.coopercos.com.
About CooperSurgical
CooperSurgical is a leading fertility and women's healthcare company dedicated to putting time on the side of women, babies, and families at the healthcare moments that matter most in life. CooperSurgical is at the forefront of delivering innovative assisted reproductive technology (ART) and genomic solutions that enhance the work of ART professionals to the benefit of families. We currently offer over 600 clinically relevant medical devices to women's healthcare providers, including testing and treatment options.
CooperSurgical is a wholly-owned subsidiary of CooperCompanies (Nasdaq: COO). CooperSurgical, headquartered in Trumbull, CT, produces and markets a wide array of products and services for use by women's health care clinicians. More information can be found at www.coopersurgical.com.
About obp Surgical
obp Surgical Corporation is committed to delivering single-use, self-contained, cordless illuminating surgical devices to improve and transform healthcare. Our innovative products are used in surgery centers and hospital operating rooms throughout the United States and worldwide. For more information on obp Surgical Corporation and the ONETRAC™ product lines, please visit www.obpsurgical.com.
Forward-Looking Statements
This press release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Statements relating to plans, prospects, goals, strategies, future actions, events or performance and other statement of which are other than statements of historical fact, including statements regarding the benefits of the acquisition of obp Surgical assets, synergies and strategic plans related to the acquired business, and other financial expectations related to the acquisition. To identify these statements, look for words like "believes," "outlook," "probable," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Among the factors that could cause actual results and future actions to differ materially from those described in forward-looking statements are: difficulties in integrating operations, adverse changes in the global or regional general business, political and economic conditions including the impact of continuing uncertainty and instability of certain countries, man-made or natural disasters, that could adversely affect our global markets, and the potential adverse economic impact and related uncertainty caused by these items; uncertainties in contractual relationships and pending transactions; changes in legal and regulatory requirements; and other factors described in the Securities and Exchange Commission filings for CooperCompanies (Nasdaq: COO), including the Annual Report on Form 10-K for the fiscal year ended October 31, 2023, as such disclosures may be updated in annual and quarterly filings. We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law.
Contacts:
CooperCompanies Investor Relations
Kim Duncan
Vice President, Investor Relations and Risk Management
925-460-3663
ir@cooperco.com
CooperSurgical Media Relations
pr@coopersurgical.com
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