Medical device company CooperCompanies has wrapped up the acquisition of life sciences company Generate Life Sciences for a purchase price of around $1.6bn.
Based in Los Angeles, Generate Life Sciences offers reproductive, newborn stem cell, genetic screening, medical device, and healthcare technology services.
The company’s brands include CBR (Cord Blood Registry), California Cryobank, Donor Egg Bank USA, NW Cryobank, ReadyGen, Kitazato USA, and Donor Application.
Generate offers ReadyGen at-home paediatric screening test, which is powered by health intelligence company Sema4. It provides personalised health information on many conditions to help parents better protect their children.
The company has facilities in Tucson, New York, Boston, Palo Alto, and Rockville in the US. The acquired business will be included in CooperSurgical business unit.
Cooper president and CEO Al White said: “We are excited to complete this transaction and welcome the Generate employees to the Cooper family.
“By adding Generate to CooperSurgical we are able to provide fertility clinics and Ob/Gyns an even stronger offering and we look forward to delivering these products and services with our newly added team members.”
Cooper has also completed a $1.5bn non-amortising five-year senior unsecured term loan, which will be used for the current acquisition.
CooperCompanies operates two business units called CooperVision and CooperSurgical.
CooperVision offers a range of products for contact lens wearers, while CooperSurgical delivers a diversified portfolio of products and services with a focus on medical devices and fertility and genomics.
In February this year, CooperSurgical acquired US-based AEGEA Medical that manufactures Mara water vapour ablation system.
