CooperCompanies has agreed to acquire Generate Life Sciences and merge with its subsidiary CooperSurgical, a women’s health and fertility solutions firm, for around $1.6bn.

Generate is a provider of donor egg and sperm for fertility treatments, fertility cryopreservation services and newborn stem cell (cord blood and tissue) storage.

It operates through its brands Cord Blood Registry (CBR), California Cryobank, Donor Egg Bank, NW Cryobank, ReadyGen, Kitazato USA, and Donor Application.

The company has reported revenues of around $250m for 12 months ended 30 September 2021.

With the acquisition of Generate Life Sciences, CooperSurgical is expected to expand fertility, and labour and delivery offerings.

The transaction is expected to close in the company’s first fiscal quarter of 2022, subject to customary closing conditions, including regulatory approval.

Generate CEO Richard Jennings said: “Generate helps families around the world benefit from its industry-leading services that support clients throughout their reproductive journey, from pre-conception through post-birth.

“Over the past several years, our company has transformed into a global life sciences organisation supporting clients looking to build and protect their families. Our affiliation with GI Partners was the catalyst to accelerate the growth of the company.”

CooperCompanies is a publicly traded medical device maker operating through two subsidiaries, CooperVision and CooperSurgical.

CooperVision is engaged in developing a wide range of high-quality products for contact lens wearers along with providing focused support for practitioners.

CooperSurgical offers a diversified portfolio of products and services focusing on medical devices, fertility and genomics for women, babies and families.

The deal will be accretive to its non-GAAP earnings per share by around $0.30 in the first-year post-closing, apart from one-time charges and deal-related amortisation, said Cooper.

CooperCompanies president and CEO Al White 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.”