CooperVision completes acquisition of Sauflon

The Cooper Companies Inc. announced Wednesday that it has acquired Sauflon Pharmaceuticals Ltd. for approximately $1.2 billion.

More details regarding the deal, which had been previously announced, will be available in September, according to a press release from Cooper.

To fund the acquisition of Sauflon, the global medical device company also announced that it took a $700 million 3-year senior unsecured term loan, which matures August 4, 2017.

Cooper will also use the funds for general corporate purposes.

Bob Ferrigno, president, North America, CooperVision, told Primary Care Optometry News that incorporating Sauflon’s products, people and pipeline will benefit optometrists.

"Our goal is to grow and strengthen our relationships with customers, in part by helping them to further capitalize on the daily disposable category," he said. "Our primary focus in making the acquisition was Sauflon's daily disposable contact lenses, which aids in our ability to offer a unique, multitiered approach for the category. Our customers will now have access to the world's most comprehensive portfolio of daily disposable lenses. In bringing the Sauflon product lines into CooperVision, we also anticipate being able to extend the availability of those lenses to other markets in which they're not presently available."

Ferrigno also noted that CooperVision has not made any changes to the product availability for either company.

As noted in a previous article, Sauflon has forecasted revenue of approximately $210 million for the fiscal year ending Oct. 31.