RTTNews | Nov 10, 2021 04:58PM EST

16:58 Wednesday, November 10, 2021 (RTTNews.com) - Private investment firm GI Partners said on Wednesday that it signed a definitive agreement to sell life sciences company Generate Life Sciences to global medical device company The CooperCompanies Inc.(COO) for a sum of $1.6 billion. The deal is expected to be completed in Cooper's first fiscal quarter of 2022 and is expected to be beneficial to Cooper's adjusted earnings per share by around $0.30 in the first year after closing.

Generate Life Sciences was created by GI Partners in 2018 by combining donor sperm and egg bank California Cryobank Life Sciences and Cord Blood Registry, a provider of newborn stem cell services. The combined business became a key player in three highly complementary end-markets. The company recorded around $250 million in trailing twelve-month revenues as of September 30.

Commenting on the deal, Al White, Cooper's President and CEO, said, "This acquisition is a strong strategic fit for CooperSurgical as it allows us to better serve fertility clinics and Ob/Gyns with a more extensive suite of products and services. As a leader in women's healthcare, this is an important addition to our existing offerings and allows us to leverage our infrastructure and expertise, including our sales forces' strong clinical reputation and educational capabilities."

Read the original article on RTTNews ( https://www.rttnews.com/3241407/coopercompanies-to-buy-generate-life-sciences-from-gi-partners-for-1-6-bln.aspx)

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