Coopervision will spin off a subsidiary.
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The Palo Alto-based medical-products concern said it plans to spin off, as a separate company, its optometrically related products business that makes contact-lens products. Coopervision said the move, designed to maximize shareholder value, reflects its diversification beyond eye-care products. The spun-off company will retain the name of Coopervision; the existing company will be renamed Cooper Cos.
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