CooperCompanies Buys Generate Life Sciences for $1.6B
The publicly held healthcare company CooperCompanies has agreed to pay $1.6 billion to acquire Los Angeles-based Generate Life Sciences.
Generate will be incorporated into CooperSurgical, CooperCompanies’ women’s health and fertility division, the firm announced. The deal is expected to close in December, and add to spiking rates of investment in the life sciences sector seen across the country.
Generate was founded more than 40 years ago to provide reproductive, newborn stem cell and related genetic services. The company acquired Australia-based CellCare Group earlier this summer, and also opened a stem cell manufacturing facility in La Jolla, Calif.
Generate’s brands also include Cord Blood Registry, California Cryobank, Donor Egg Bank USA, NW Cryobank, ReadyGen, Kitazato USA, and Donor Application, and it operates facilities in Tucson, Ariz., New York, Boston, Palo Alto, Calif., and Rockville, Md.
The company’s services are expected to complement CooperSurgical in both fertility solutions, and labor and delivery. And the combined business will provide fertility clinics and healthcare providers with new options to support patients, the companies 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,” Generate CEO Richard Jennings said in a statement. “Over the past several years, our company has transformed into a global life sciences organization supporting clients looking to build and protect their families.”
Based in San Ramon, Calif., CooperCompanies is a global medical device company, and also operates CooperVision.
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