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The Cooper Companies, Inc. (NYSE: COO) is a global medical device company specializing in improving quality of life through innovative products and services. Headquartered in San Ramon, CA, Cooper operates through two main business units: CooperVision and CooperSurgical.CooperVision is a leader in the contact lens industry, offering a diverse range of high-quality contact lenses, including spherical, multifocal, toric, and specialty lenses. With brands like Proclear, Biofinity, MyDay, and Clariti, CooperVision commands roughly one-fourth of the US contact lens market. The company is committed to providing excellent practitioner support, ensuring that both users and professionals benefit from their cutting-edge solutions.
CooperSurgical, founded in 1990, focuses on women's health and fertility, offering market-leading products and treatment options. The division supplies clinicians with over 600 medical devices and treatment solutions related to reproductive care, fertility, and women's health. Notably, CooperSurgical owns Paragard, the only hormone-free IUD available in the US, holding a 17% share of the US IUD market. Additionally, CooperSurgical has the largest medical device coverage for the entire IVF cycle.
With a workforce of over 15,000 employees and products available in more than 130 countries, CooperCompanies is dedicated to delivering shareholder value while enhancing the lives of individuals globally. The company continues to innovate and expand, recently achieving record annual revenues and strong earnings. Noteworthy advancements include a four-for-one stock split set to become effective on February 16, 2024, and partnerships like that with Fulgent Genetics to offer exclusive newborn genetic screening panels through Cord Blood Registry.
Cooper's fiscal year 2023 showcased significant milestones, including double-digit organic growth in their fertility segment and strong performance in contact lenses. As they move into fiscal year 2024, Cooper remains focused on their strategic objectives: gaining market share, driving profitability, and launching innovative products and services.
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A recent peer-reviewed study published in Optometry and Vision Science confirms that CooperVision's MiSight® 1 day contact lenses effectively control myopia in children. The six-year trial shows that 90% of myopic children benefit from the lenses, with a sustained slowing of eye growth observed over time. The study reveals that treatment effects are particularly strong in younger and faster-progressing children. CooperVision reinforces its commitment to myopia management, aiming to provide effective solutions for vision care.
CooperCompanies (NYSE: COO) reported a strong first quarter for fiscal 2022, with revenue rising 16% to $787.2 million. CooperVision's revenue increased 11% while CooperSurgical saw a notable 30% rise. GAAP diluted earnings per share were $1.91, significantly impacted by a previous year's tax benefit. Non-GAAP diluted EPS was $3.24, up 2% year-over-year. The company faces risks from the COVID-19 pandemic and geopolitical tensions, prompting revised financial guidance for total revenue between $3,261 million and $3,329 million for fiscal 2022.
CooperCompanies (NYSE: COO) will participate in Oppenheimer’s 32nd Annual Healthcare Conference on March 16, 2022. The session, led by CFO Brian Andrews, starts at 3:20 PM ET and will be conducted virtually. Interested parties can access a live webcast of the presentation through the Investor Relations section of CooperCompanies’ website. A replay will be available after the event concludes. CooperCompanies focuses on medical devices through its two main units: CooperVision and CooperSurgical, catering to vision care and women’s health.
Cook Medical has signed a letter of intent to sell its Reproductive Health business to CooperCompanies for $875 million. The deal includes $675 million at closing and $200 million in four annual installments of $50 million each. This strategic move aims to enhance product offerings in women’s health and fertility solutions. Cook will continue manufacturing products for CooperSurgical for two years during the transition. The transaction is pending regulatory approvals and local consultations.
CooperCompanies (NYSE: COO) has announced a binding letter of intent to acquire Cook Medical's Reproductive Health business for approximately $875 million. The payment structure consists of $675 million at closing and $200 million paid in four annual installments of $50 million. The acquisition aims to enhance CooperSurgical's international fertility footprint, particularly in the Asia-Pacific region, and is expected to be accretive to non-GAAP earnings per share by approximately $0.60 in the first year. The transaction is subject to customary closing conditions.
CooperCompanies (NYSE: COO) will release its Q1 2022 financial results on March 3, 2022, at 4:15 PM ET. Following the release, a conference call will be held at 5:00 PM ET to discuss results and corporate developments. Participants can join via dial-in or through the Company's website. A recording will be available after the call until March 10, 2022. CooperCompanies focuses on medical devices, operating through two units: CooperVision and CooperSurgical, and employs over 12,000 individuals globally.
CooperCompanies (NYSE: COO) will present at the J.P. Morgan Healthcare Conference on January 11, 2022, at 2:15 PM ET. Al White, President and CEO, will lead the virtual session. Interested parties can access a live webcast on the Investor Relations section of the company's website, which will be available for 30 days post-event. CooperCompanies focuses on medical devices through its units, CooperVision and CooperSurgical, and employs over 12,000 people globally.
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.
CooperCompanies (NYSE: COO) has scheduled its annual meeting of stockholders for March 16, 2022. Stockholders who are recorded by January 20, 2022, can vote on key matters, including the election of directors. The company is divided into two main business units: CooperVision, focusing on vision care products, and CooperSurgical, which specializes in women’s and family health. Headquartered in San Ramon, CA, Cooper operates globally with over 12,000 employees and products in more than 100 countries.
CooperCompanies (NYSE: COO) has declared a semi-annual dividend of 3 cents per share, as part of its ongoing annual dividend plan. This dividend will be payable on February 9, 2022, to stockholders recorded by January 21, 2022. The company operates two business units: CooperVision, which focuses on vision care products, and CooperSurgical, dedicated to women's health and medical devices. With over 12,000 employees and products available in over 100 countries, Cooper continues to enrich the lives of its customers globally.
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