Cooper Companies Medical Device Company Intelligence Report

Summary

Medical Device Company Intelligence Reports provide a full review of the company's activities, from its origins to its latest corporate activity, including mergers and acquisitions, agreements, divestitures, major purchasing contracts and litigation. Sections are included on products, international activities and R&D, as well as a full, in-depth five year financial analysis. An introduction to each report and a full table of contents is provided for review. More than 60 Medical Device Company Intelligence Reports are currently available.

Headquartered in Pleasanton, California, US, The Cooper Companies manufactures and markets speciality healthcare products through its CooperVision and CooperSurgical divisions.

CooperVision (CVI) manufactures and markets a broad range of contact lenses and, following its acquisition of Ocular Sciences in 2005, has become one of the most successful players in this market.

CooperSurgical (CSI) manufactures and markets medical devices, diagnostic products and surgical instruments and accessories for women's healthcare, which are primarily used by gynaecologists and obstetricians.

The company has mainly developed through acquisitions, purchasing nearly 30 businesses over the last 15 years. The most recent acquisition was in February 2007, when CSI acquired Wallach Surgical Devices, a company offering various diagnostic and therapeutic medical instruments primarily for in-office use in women's healthcare and other speciality instruments relating to dermatology, ophthalmology, anaesthesiology, dentistry and veterinary medicine. This followed on from the November 2006 purchase of Lone Star Medical Products, a medical device manufacturer that complemented the 2005 purchases of Inlet Medical and NeoSurg Technologies.

CVI's three largest competitors are Johnson & Johnson's Vistakon division, CIBA Vision (owned by Novartis) and Bausch & Lomb.

CSI competes primarily with smaller technology-driven companies that generally offer only one or two product lines. However, the company is now expanding into the significantly larger hospital and outpatient surgical procedure market, which is dominated by larger competitors such as Johnson & Johnson's Ethicon Endo-Surgery and Ethicon Women's Health and Urology companies, Boston Scientific, Gyrus and ACMI.

For the financial year ended 31st October 2008 (fiscal 2008), The Cooper Companies reported net sales of US$1,063.2 million. This represented an 11.8% increase on the US$950.6 million of the previous financial year. However, the cost of sales was also up, by 5.1% to US$453.1 million, in fiscal 2008, leaving Cooper with a gross profit of US$610.0 million (still up by 17.4% y-o-y). SG&A expenses grew by 5.2% to US$429.3 million over the year, while other expenses such as R&D and restructuring were down y-o-y.

The Cooper Companies reported an operating income of US$127.0 million in fiscal 2008; this was greatly improved on the US$45.8 million of the previous year. After taxes, Cooper was left with a net income of US$65.5 million, again much improved on the previous year's loss of US$11.2 million.

CVI posted net sales of US$894.8 million in fiscal 2008, up by 12.4% from US$795.9 million a year earlier. The unit accounted for 84.2% of total consolidated net sales at Cooper Companies (83.7% in fiscal 2007). The remaining 15.8% was generated by CSI (16.3% a year earlier).

Contents

• 1.Overview
• 2.Corporate History
• 3.Products
• 4.International Activities
• 5.Research And Development
• 6.Financial Review