Cook Medical announced today that it has signed a letter of intent to sell its Reproductive Health business to CooperCompanies.
CooperCompanies (NYSE:COO) plans to pay privately-held Cook Medical $875 million — $675 million at closing, with the remaining $200 million paid in four $50 million annual installments.
The proposed deal is subject to applicable local consultation obligations and regulatory approvals.
For more than 40 years, Cook focused on Reproductive Health. Over the decades, it developed products for obstetrics and gynecology, in vitro fertilization (IVF) and assisted reproductive technology (ART). The company’s work included developing the first needle specifically for IVF treatments.
“Our history with reproductive health has been full of innovations to help patients fulfill their dreams of having a family,” D.J. Sirota, SVP of Cook Medical’s MedSurg specialty, said in a news release.
“This agreement represents more tha…