Cooper Unit Buys Product Line
A unit of the Cooper Companies Inc. agreed to acquire a group of women’s health care products from BEI Medical Systems Co. Inc. for about $11.2 million in cash.
Irvine-based Cooper said Monday it expects the transaction to close in about 30 days.
The products, to be acquired by CooperSurgical Inc., account for about 96% of the BEI’s revenue, the New Jersey company said.
BEI Medical said the proposed sale includes two product lines that are used by gynecologists for the examination and treatment of the cervix and uterus, and a product line used in gastroenterology.
Physicians use these products both in their offices and in hospitals. The majority of them are disposable.
Following the sale, BEI said it will focus exclusively on its Hydro ThermAblator, or HTA system, to treat excessive uterine bleeding.
BEI said previously it completed a Phase III clinical trial of the HTA system, and would follow the patients for a year before submitting a premarket approval application for the products.
Monday, the company said its goal is to file for the approval in fall 2000.
Cooper Cos. stock closed Monday at $29.44, down $1.19 a share, on the New York Stock Exchange. The company develops and markets specialty health care products.
