PLEASANTON, Calif., Aug. 10, 2015 (GLOBE NEWSWIRE) -- The Cooper Companies, Inc. (NYSE:COO) today announced that CooperSurgical, its women's health care unit, has acquired Reprogenetics, the largest genetics laboratory specializing in preimplantation genetic screening (PGS) and preimplantation genetic diagnosis (PGD) used during the in-vitro fertilization (IVF) process. The transaction is valued at approximately $46.5 million and is expected to be neutral to fiscal 2015 and 2016 earnings per share and accretive thereafter, excluding one-time charges and deal-related amortization. As of July 31, 2015, Reprogenetics had trailing twelve month sales of approximately $20 million, and forecasted growth is expected to be in the low double digits in the coming years.
Commenting on the transaction, Robert S. Weiss, Cooper's president and chief executive officer said, "The acquisition of Reprogenetics strengthens our industry-leading IVF business by positioning us at the forefront of the emerging field of genetic testing targeted to improving IVF pregnancy rates while helping to eliminate severe genetic disorders."
About The Cooper Companies
The Cooper Companies, Inc. ("Cooper") is a global medical device company publicly traded on the NYSE Euronext (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 focuses on supplying women's health clinicians with market leading products and treatment options to improve the delivery of healthcare to women. Headquartered in Pleasanton, CA, Cooper has close to 10,000 employees with products sold in over 100 countries. For more information, please visit www.coopercos.com.
About Reprogenetics
Reprogenetics, headquartered in Livingston, New Jersey, is the world's largest genetics laboratory specializing in preimplantation genetic screening (PGS) and preimplantation genetic diagnosis (PGD). PGS, which tests for the correct number of chromosomes, and PGD, which tests embryos for specific inherited disorders, have the potential to increase implantation rates and establish a pregnancy unaffected by specific known genetic characteristics. Reprogenetics offers the latest technology in comprehensive chromosome screening, routinely investigates the accuracy of new protocols, and performs randomized clinical trials with the next generation of technology while offering personalized service to its referring fertility centers and their patients worldwide. More information about Reprogenetics can be found at www.reprogenetics.com.
Forward-Looking Statements
This news 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 all statements regarding the acquisition of Reprogenetics including Reprogenetics' financial position, market position, product development and business strategy, expected cost synergies, expected timing and benefits of the transaction, as well as estimates of our and Reprogenetics' future expenses, sales and earnings per share 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.
Among the factors that could cause our actual results and future actions to differ materially from those described in forward-looking statements are: acquisition-related adverse effects including the failure to successfully obtain anticipated revenues, margins and earnings benefits of the Reprogenetic acquisition, integration delays or costs; adverse changes in the global or regional general business, political and economic conditions due to the current global economic downturn; a major disruption in the operations of our manufacturing, research and development or distribution facilities due to technological problems, natural disasters or other causes; manufacturing or supply chain disruptions limitations on sales following product introductions due to poor market acceptance; new competitors, product innovations or technologies; reduced sales, loss of customers and costs and expenses related to recalls; new U.S. and foreign government laws and regulations, and changes in existing laws, regulations and enforcement guidance, which affect the medical device industry and the healthcare industry generally; failure to receive, or delays in receiving, U.S. or foreign regulatory approvals for products; failure to obtain adequate coverage and reimbursement from third party payors for our products; compliance costs and potential liability in connection with U.S. and foreign healthcare regulations; legal costs, insurance expenses, settlement costs and the risk of an adverse decision or settlement related to product liability, patent protection or other litigation; changes in tax laws or their interpretation and changes in statutory tax rates; the requirement to provide for a significant liability or to write off, or accelerate depreciation on, a significant asset, including goodwill; the success of our research and development activities and other start-up projects; dilution to earnings per share from the Reprogenetic acquisition or other acquisitions or issuing stock; changes in accounting principles or estimates; environmental risks and other events described in our Securities and Exchange Commission filings, including the "Business" and "Risk Factors" sections in the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2014, as such Risk Factors may be updated in quarterly filings.
We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law.
COO-G
CONTACT: Kim Duncan
Vice President, Investor Relations
ir@cooperco.com
