Cooper Companies Buys Smiths Medical's IVF Segment Wallace For $168 Mln

(RTTNews) - Medical device company Cooper Companies Inc. (COO) Monday announced that CooperSurgical has acquired Wallace, the in-vitro fertilization or IVF segment of Smiths Medical, a division of Smiths Group plc (SMIN.L). The purchase price is approximately $168 million subject to customary closing adjustments.

In the last twelve months, Wallace reported sales of approximately $29 million. Excluding non-recurring items and deal-related amortization, the transaction is expected to be approximately $0.10 accretive to earnings per share in fiscal 2017.

Robert Weiss, Cooper's president and chief executive officer said, "This acquisition is a great strategic fit with our existing IVF portfolio as Wallace brings the gold standard of embryo transfer catheters along with several other premier products such as oocyte retrieval needles. The addition of these products further strengthens our IVF portfolio which is sold into fertility clinics worldwide."