The second time might be the charm for Cook Medical after the company signed a letter of intent to sell its reproductive health business to a private equity company, Astrog, for an unspecified amount.
The sale includes Cook’s in vitro fertilisation (IVF) and assisted reproductive technology (ART) products, along with a Pennsylvania manufacturing site, Cook Vandergrift. After the deal closes, Astrog plans to combine the Cook ART portfolio with Hamilton Thorne, which also has an ART portfolio of its own.
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The financials of the deal were not disclosed, with the sale expected to close by the end of the year. Cook added that the “proceeds from this sale will be reinvested back into the company’s strategic plan”. Cook’s sale of its reproductive health business also includes the transfer of 93 of the employees who work in sales, product management, training, and marketing.
Cook previously tried to sell its reproductive health business to CooperCompanies for $875m in 2022. After facing scrutiny from the US Federal Trade Commission (FTC), CooperCompanies decided to abandon the deal.
However, Cook did end up selling some of its reproductive health business assets such as maternal foetal medicine products, gynaecological surgery products and the Doppler monitor technology, disposable devices and accessories. CooperCompanies paid approximately $300m for the products.
While Cook Vandergrift’s site is included in the sale, the company will continue to provide manufacturing services for three years following the acquisition. After that, Cook Vandergrift’s 209 employees will also be transferred to the combined company.
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By GlobalDataCook also sold its Head and Neck Surgery (OHNS) assets to C2Dx in January. The deal included salivary access and intervention tools, as well as its Biodesign Sinonasal repair graft designed for use during nasal and sinus mucosal tissue procedures. The financials of the deal were not disclosed.
