Trumbull-based global medical device maker CooperSurgical has purchased UK-based Safe Obstetric Systems for around $52 million.
The acquisition gives CooperSurgical the company’s Fetal Pillow device, which is used to elevate the head of a fetus during a cesarean section. The Food and Drug Administration- approved device aims to make the delivery easier and less traumatic for the mother and baby, the company said.
The acquisition is CooperSurgical’s third in as many months. In January it purchased Illinois-based Embryo Options, followed by California-based Aegea Medical in February.
Al White, president and CEO of CooperSurgical’s California-based parent company CooperCompanies, said this week that the acquisition aligns perfectly with his company’s mission to advance women’s health care.
“Fetal Pillow will roll seamlessly into our medical device portfolio, providing our team a truly innovative product with strong clinical benefits that helps address the market need for safer childbirth,” he said in a statement.
The deal includes a contingent payment of around $14 million based on future revenue growth.
The Fetal Pillow has been on the market since 2011. It is sold to hospitals in more than 20 countries and generated roughly $4.9 million in revenues last year, according to CooperCompanies.
The acquisition is not expected to impact CooperSurgical’s adjusted earnings per share in fiscal 2021, the company said.
CooperSurgical says it provides products and services to advance the health of women, babies and families. It focuses on medical devices as well as fertility and genomics.
Contact Natalie Missakian at news@newhavenbiz.com
