Pleasanton, CA – The Cooper Companies Inc. has entered into definitive agreements to acquire Sauflon Pharmaceuticals Ltd, a UK-based manufacturer and distributor of soft contact lenses and solutions.
The transaction is valued at approximately $1.2 billion.
Sauflon forecasts revenue of approximately $210 million for its fiscal year ending October 31, 2014, up approximately 22 percent year-over-year.
Commenting on the acquisition, CooperVision said it “will now be able to offer a multi-tier daily strategy that includes a full suite of silicone hydrogel and hydrogel lenses, including options within all categories — spheres, torics and multifocals.”
The daily segment, it said, “is the fastest growing segment of the soft contact lens market and this transaction positions CooperVision as the premier company in this space.”
The transaction is subject to regulatory approval and is anticipated to close prior to fiscal year end, October 31.