CooperVision Inc. parent CooperCos. today said that it has signed a definitive purchase agreement to acquire Generate Life Sciences, a privately-held leading provider of donor egg and sperm for fertility treatments, fertility cryopreservation services and newborn stem cell storage.
“This acquisition is a strong strategic fit for CooperSurgical as it allows us to better serve fertility clinics and Ob/Gyns with a more extensive suite of products and services,” said President and CEO Al White. “As a leader in women’s healthcare, this is an important addition to our existing offerings and allows us to leverage our infrastructure and expertise, including our sales forces’ strong clinical reputation and educational capabilities.”
Cooper will pay roughly $1.6 billion to acquire Generate Life Sciences. The transaction is expected to close in Cooper’s first fiscal quarter of 2022 and is subject to customary closing conditions, including regulatory approval.
Generate Life Sciences reported roughly $250 million in trailing 12-month revenues as of Sept. 30, 2021. Excluding one-time charges and deal-related amortization, the acquisition is expected to be accretive to Cooper’s non-GAAP earnings per share by some 30 cents in the first year after closing.
CooperCos. has three locations in the Rochester region. Shares of company stock (NYSE: COO) opened Thursday at $418.05, down from Wednesday’s close at $434.12. Shares quickly dropped some 4 percent to roughly $415.