Cooper Cos. (COO) Acquires Safe Obstetric Systems
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CooperCompanies (NYSE: COO), today announced that CooperSurgical has acquired Safe Obstetric Systems, a privately held manufacturer of the medical device, Fetal Pillow®. This FDA approved product is used to elevate the fetal head during a fully dilated cesarean section making the delivery easier and less traumatic for the mother and baby.
Commenting on the transaction, Al White, Cooper’s President and CEO, said, “This acquisition is an excellent strategic fit for CooperSurgical as it aligns perfectly with our mission of advancing women’s healthcare. Fetal Pillow® will roll seamlessly into our medical device portfolio, providing our team a truly innovative product with strong clinical benefits that helps address the market need for safer childbirth.”
The acquisition price is approximately £37.5 million in cash plus a contingent payment up to £10.0 million based on future revenue growth. Fetal Pillow generated revenues of approximately £3.5 million in calendar 2020. The acquisition is expected to be roughly neutral to Cooper’s non-GAAP earnings per share in fiscal 2021.
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