Cook Medical announced it signed a letter of intent with CooperCompanies to sell the entirety of Cook’s Reproductive Health business within the MedSurg division.
CooperCompanies, a publicly held healthcare company, is focused on women’s health and fertility solutions, providing innovative products and services for every step in the ART journey. Under the proposed transaction, CooperCompanies will pay $875 million comprised of $675 million at closing and $200 million paid in four $50 million annual installments. The proposed transaction is subject to compliance with applicable local consultation obligations and regulatory approvals.
For more than 40 years, Cook has had a focus on Reproductive Health, successfully developing products for obstetrics and gynecology, In Vitro Fertilization (IVF) and Assisted Reproductive Technology (ART). Cook’s history with Reproductive Health is full of innovations that help patients fulfill their dreams of having a family, including developing the first needle specifically for IVF treatments.
After the closing of the transaction, Cook will continue to manufacture products for CooperSurgical during a two-year transition period and will increase manufacturing capacity to keep up with growth. No manufacturing jobs are at risk because of this partnership. Employees in manufacturing who support these products will continue to do so during the transition period and eventually will cross train to manufacture other Cook Medical products.
