Cooper Cos. Completes Agreement to Sell County Business to Alcon
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Cooper Cos. said Friday that it has completed a definitive agreement to sell its Orange County business of eye-surgical products to Alcon Laboratories for about $325 million.
Completion of the previously announced transaction between Cooper, a Palo Alto health-care products concern, and Alcon Laboratories, a subsidiary of the Swiss conglomerate Nestle SA, is expected before the end of the year. It is subject to approval of the boards of both companies and various regulatory agencies.
Cooper Surgical in Irvine develops, manufactures and markets ophthalmic surgical instruments, equipment and systems, disposable surgical kits and artificial lenses used to replace the lenses of cataract patients. It generates sales of about $300 million a year and employs about 2,500 people, including more than 700 in Irvine.
The company said Friday that the sale does not include its worldwide contact lens, plastic and reconstructive surgical products or medical diagnostic businesses.
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