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CooperSurgical Buys Genesis Genetics

Acquisition strengthens healthcare group’s IVF capabilities.

By: The Cooper Companies Inc.

Pleasanton, Calif.-based The Cooper Companies Inc.’s women’s healthcare unit, CooperSurgical, has acquired Genesis Genetics, a 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 $60 million and is expected to be neutral to earnings per share in fiscal 2016 and accretive thereafter, excluding one-time charges and deal-related amortization. As of March 31, 2016, Genesis Genetics had trailing twelve-month revenues of approximately $24 million, and forecasted growth is expected to be in the low double digits over the coming years.

Commenting on the transaction, Robert S. Weiss, Cooper’s president and CEO said, “The acquisition of Genesis Genetics further strengthens our IVF business and extends our reach in the emerging field of genetic testing targeted to improving IVF pregnancy rates while helping to eliminate severe genetic disorders.”

Genesis Genetics, headquartered in Plymouth, Mich., is a provider of 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.

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