Cooper Companies sells Hospital Group of America
This article was originally published in Clinica
The Cooper Companies is on the brink of becoming a pure medical devices company with the divestment of certain assets and liabilities of its psychiatric services business, Hospital Group of America. Universal Health Services is to pay $30 million for most of HGA's business.
The divestment will leave two divisions - CooperSurgical, which makes products for the gynaecological market, and contact lens company CooperVision. Deutsche Bank Research says that, following the divestment, the remaining companies will have a more predictable earnings stream and better growth in the longer term.