Cooper Companies Acquires The LifeGlobal Group
OREANDA-NEWS. April 04, 2018. The Cooper Companies, Inc. (NYSE:COO) today announced that CooperSurgical has acquired the assets of The LifeGlobal Group and its affiliates, a leading global provider of in-vitro fertilization (IVF) devices. The transaction is valued at approximately $125 million and is expected to be neutral to earnings per share in fiscal 2018 and accretive thereafter, excluding one-time charges and deal-related amortization. LifeGlobal had annual revenues of approximately $24 million in calendar 2017, and is forecasted to grow in the mid to upper single digits over the coming years.
Commenting on the transaction, Robert S. Weiss, Cooper’s president and chief executive officer said, “This acquisition fits perfectly into our very successful fertility solutions portfolio with LifeGlobal strengthening CooperSurgical’s fertility media offering and thus improving our industry leading fertility business overall.”
About The Cooper Companies
The Cooper Companies, Inc. ("Cooper") is a global medical device company publicly traded on the NYSE (NYSE:COO). Cooper is dedicated to being A Quality of Life Company™ with a focus on delivering shareholder value. 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 families with its diversified portfolio of products and services focusing on women’s health, fertility and diagnostics. Headquartered in Pleasanton, CA, Cooper has more than 11,000 employees with products sold in over 100 countries. For more information, please visit www.coopercos.com.
About The LifeGlobal Group
The LifeGlobal Group (“LifeGlobal”), headquartered in Guilford, Connecticut, is a privately held company that specializes primarily in IVF media. As the pioneer and leader in “one-step” media for embryo culture, LifeGlobal maintains very strong customer relationships along with product loyalty. The use of one-step media has grown significantly over the years as it reduces handling of embryos and lab requirements to hold multiple formulations of media inventory. LifeGlobal’s other product categories include other media products as well as IVF laboratory air filtration products and dishware. For more information, visit www.lifeglobalgroup.com.
This press release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Statements relating to guidance, plans, prospects, goals, strategies, future actions, events or performance and other statements which are other than statements of historical fact, including our 2018 Guidance and all statements regarding acquisitions including the acquired companies’ financial position, market position, product development and business strategy, expected cost synergies, expected timing and benefits of the transaction, difficulties in integrating entities or operations, as well as estimates of our and the acquired entities’ future expenses, sales and diluted earnings per share are forward looking. In addition, all statements regarding anticipated growth in our revenue, anticipated effects of any product recalls, anticipated market conditions, planned product launches and expected results of operations and integration of any acquisition are forward-looking. To identify these statements look for words like "believes," "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.