CooperCompanies Completes Acquisition of Generate Life Sciences®

Rhea-AI Summary

CooperCompanies (NYSE: COO) has finalized the acquisition of Generate Life Sciences for around $1.6 billion. This acquisition enhances Cooper's offerings in fertility treatments, cryopreservation, and stem cell storage. Cooper's President and CEO, Al White, expressed enthusiasm for integrating Generate's employees into the Cooper family, aiming to bolster services for fertility clinics and Ob/Gyns. To finance the acquisition, Cooper has secured a $1.5 billion non-amortizing senior unsecured term loan.

Positive

• Acquisition of Generate Life Sciences enhances product offerings in fertility treatments.
• Strengthens CooperSurgical's position in the reproductive health market.
• Integration of Generate's workforce expected to boost service capacity.

Negative

• Acquisition financed through a substantial $1.5 billion loan, increasing financial leverage.

SAN RAMON, Calif., Dec. 17, 2021 (GLOBE NEWSWIRE) -- CooperCompanies (NYSE: COO) today announced it has completed the previously announced definitive purchase agreement to acquire Generate Life Sciences, a leading provider of donor egg and sperm for fertility treatments, fertility cryopreservation services and newborn stem cell storage (cord blood & cord tissue), for a purchase price of approximately $1.6 billion.

“We are excited to complete this transaction and welcome the Generate employees to the Cooper family,” said Al White, Cooper’s President and CEO. “By adding Generate to CooperSurgical we are able to provide fertility clinics and Ob/Gyns an even stronger offering and we look forward to delivering these products and services with our newly added team members.”

In connection with the transaction, Cooper also announced it has closed a $1.5 billion non-amortizing 5-year Senior Unsecured Term Loan. The Company intends to use the facility to fund the acquisition.

About CooperCompanies
CooperCompanies ("Cooper") is a global medical device company publicly traded on the NYSE (NYSE: COO). Cooper operates through two business units, CooperVision and CooperSurgical. CooperVision brings a refreshing perspective on vision care with a commitment to developing a wide range of high-quality products for contact lens wearers and providing focused practitioner support. CooperSurgical is committed to advancing the health of women, babies and families with its diversified portfolio of products and services focusing on medical devices and fertility & genomics. Headquartered in San Ramon, CA, Cooper has a workforce of more than 12,000 with products sold in over 100 countries. For more information, please visit www.coopercos.com.

Contact:
Kim Duncan
Vice President, Investor Relations and Risk Management
925-460-3663
ir@cooperco.com 

FAQ

What is the significance of CooperCompanies' acquisition of Generate Life Sciences?

The acquisition significantly strengthens CooperCompanies' portfolio in fertility treatments and related services.

How much did CooperCompanies pay to acquire Generate Life Sciences?

CooperCompanies completed the acquisition for approximately $1.6 billion.

What financing method did CooperCompanies use for the acquisition?

CooperCompanies secured a $1.5 billion non-amortizing senior unsecured term loan to finance the acquisition.

What impact will the acquisition have on CooperCompanies' market position?

The acquisition is expected to enhance CooperCompanies' service offerings and competitive edge in the reproductive health sector.