The Cooper Companies: Difference between revisions
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It also hosts a Student Research Scholarship which encourages [[optometry]] students to take part in contact lens-based research projects.<ref>{{cite press release |title=Optometry Today |url=http://www.optometry.co.uk/news-and-features/features/?article=5141 |archiveurl=https://web.archive.org/web/20131019101530/http://www.optometry.co.uk/news-and-features/features/?article=5141 |archivedate=October 19, 2013}}</ref> |
It also hosts a Student Research Scholarship which encourages [[optometry]] students to take part in contact lens-based research projects.<ref>{{cite press release |title=Optometry Today |url=http://www.optometry.co.uk/news-and-features/features/?article=5141 |archiveurl=https://web.archive.org/web/20131019101530/http://www.optometry.co.uk/news-and-features/features/?article=5141 |archivedate=October 19, 2013}}</ref> |
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==Sustainability== |
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As part of its global sustainability efforts, over a two-year period, CooperVision converted its three Rochester, N.Y.-area sites to 100 percent renewable electricity usage.<ref>{{cite web |title=CooperVision converts three Rochester, NY facilities to wind power|url https://dailyenergyinsider.com/news/18631-coopervision-converts-three-rochester-ny-facilities-to-wind-power/ |website=Daily Energy Insider |language=en}}</ref> As of 2019, the sites now completely rely on wind power. |
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The Puerto Rico Manufacturers Association (PRMA) twice awarded the CooperVision Juana Díaz, Puerto Rico site with the Environmental Innovation Project of the Year Award. <ref>{{cite web |title=INDUSTRIALES PREMIAN LA EXCELENCIA EN SUSTENTABILIDAD AMBIENTAL EMPRESARIAL|url http://industrialespr.org/industriales-premian-la-excelencia-en-sustentabilidad-ambiental-empresarial/ |website=Industriales Puerto Rico |language=es}}</ref> In 2017, CooperVision was recognized for minimizing raw materials usage, waste and emissions at its Puerto Rico facility by more than 60 percent. The site also received the Puerto Rico Aqueduct and Water Authority’s (PRASA) Pre-Treatment Excellence Compliance Award for its water conservation efforts for four consecutive years.<ref>{{cite web |title=Puerto Rico Honors CooperVision for Environmental Efforts Around Water Sustainability Practices|url https://www.visionmonday.com/latest-news/article/puerto-rico-honors-coopervision-for-environmental-efforts-around-water-sustainability-practices/ |website=Vision Monday|language=en}}</ref> |
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The CooperVision contact lens manufacturing facility in Alajuela, Costa Rica, which opened in February 2016, was awarded LEED® Silver certification for its environmentally-conscious design and operation. <ref>{{cite web |title=CooperVision Costa Rica manufacturing plant earns LEED Silver Certification|url https://www.manufacturingglobal.com/leadership/coopervision-costa-rica-manufacturing-plant-earns-leed-silver-certification|website=Global Manufacturing |language=en}}</ref> |
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==See also== |
==See also== |
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Revision as of 18:54, 5 November 2019
 | This article may have been created or edited in return for undisclosed payments, a violation of Wikipedia's terms of use. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. (April 2019) |
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| Company type | Public |
|---|---|
| Industry | Medical Devices |
| Founded | 1958 |
| Headquarters | San Ramon, California, U.S. |
Area served | Worldwide |
Key people | Albert G. White III, President & CEO |
| Products | Medical Devices |
507,600,000 United States dollar (2022)  | |
| 385,800,000 United States dollar (2022) | |
Number of employees | 12,000 (2018)[1] |
| Divisions | CooperVision (CVI), CooperSurgical (CSI) |
| Website | coopercos |
CooperCompanies is a global medical device company. With its headquarters in San Ramon, California, it has approximately 12,000 employees[2] and consists of two subsidiaries, CooperVision (CVI) that provides contact lenses for both wearers and practitioners, and CooperSurgical (CSI) that provides products for health care professionals and establishments that are involved in women’s health care. Contact lens sales, in particular, soft toric lenses which correct astigmatism, make up for 80% of Cooper Company sales.[3] CooperCompanies has manufacturing facilities in the UK, Puerto Rico and New York and distributes from Rochester, NY, Fareham, UK and Liege, Belgium, among many other smaller distribution locations.
History
Founded in 1958 by predecessor, Martin H. Smith Co, and then incorporated as Cooper Tinsley Laboratories, Inc. in 1961, the company changed its name to Cooper Laboratories Inc. in 1967.[4] In 1979 Cooper Laboratories introduced their first soft contact lens in the United States. During a re-structuring in the 1980s, Cooper Laboratories was re-organised into three groups, CooperVision, CooperCare and CooperBiomedical, with a further group, Cooper Medical Devices Corp, added a year later. In 1987 the company adopted the name of The Cooper Companies, with CooperVision existing as a subsidiary.[3] By the 1990s, through various acquisitions and expansions, the company had expanded into other areas of healthcare, including, among others, medical devices and ophthalmic pharmaceuticals.
In May 2018, Albert G. White III was named as Chief Executive Officer.
Shareholders
Mutual fund holders 62.21% Other institutional 34.90% Individual stakeholders 1.13%[5]
Recalls
2011 – Contact lenses from the Avaira line were recalled following an investigation by the United States Food and Drug Administration into claims that the level of silicone oil residue on the contact lenses could cause blurred vision and discomfort.[6]
Litigation
In 2012 The Cooper Companies, Inc settled $27.0 million on a claim brought by a group of stockholders after claims that The Cooper Companies misled them about the problems they were facing with contact lenses produced overseas, contact lenses that were subsequently recalled.[7]
In 1992, a Delaware Chancery Court ruled that The Cooper Companies was responsible for product-liability claims on breast implants sold by a unit of the company before that unit was sold to the Bristol-Myers Squibb Company in 1988. According to Bloomberg News, Bristol-Myers Squibb "contended that Cooper had reneged on an agreement to accept all liability for breast implants that Cooper made before selling the implant business to Bristol-Myers in December 1988."[8] The lawsuit was resolved in 1993 when Medical Engineering agreed to pay all legal costs relating to breast implants, both in the future and still in dispute.[citation needed]
Cooperative Giving
Through its subsidiary, Cooper Corp, CooperCompanies is involved in various schemes and scholarship programmes in the UK, including the Park Sport initiative, a scheme run by Eastleigh Borough Council that offers different sporting activities to local families for free.[9]
It also hosts a Student Research Scholarship which encourages optometry students to take part in contact lens-based research projects.[10]
Sustainability
As part of its global sustainability efforts, over a two-year period, CooperVision converted its three Rochester, N.Y.-area sites to 100 percent renewable electricity usage.[11] As of 2019, the sites now completely rely on wind power.
The Puerto Rico Manufacturers Association (PRMA) twice awarded the CooperVision Juana Díaz, Puerto Rico site with the Environmental Innovation Project of the Year Award. [12] In 2017, CooperVision was recognized for minimizing raw materials usage, waste and emissions at its Puerto Rico facility by more than 60 percent. The site also received the Puerto Rico Aqueduct and Water Authority’s (PRASA) Pre-Treatment Excellence Compliance Award for its water conservation efforts for four consecutive years.[13]
The CooperVision contact lens manufacturing facility in Alajuela, Costa Rica, which opened in February 2016, was awarded LEED® Silver certification for its environmentally-conscious design and operation. [14]
See also
References
- ^ The Cooper Companies, Inc. (2018-12-21), Form 10-K for the fiscal year ended October 31, 2018, Washington, D.C.: U.S. Securities and Exchange Commission, File 001-08597, film 181250004, retrieved 2019-06-18
- ^ "About CooperCompanies". CooperCompanies.
- ^ a b "History of The Cooper Companies, Inc. – FundingUniverse". www.fundinguniverse.com.
- ^ "About CooperCompanies: History". CooperCompanies.
- ^ "COO - Cooper Companies Inc Company Profile - CNNMoney.com". money.cnn.com (Press release).
- ^ "CooperVision Announces Expanded Recall of Avaira Line of Contact Lenses". CooperCompanies (Press release).
- ^ "The Cooper Companies Settles Shareholder Litigation". CooperCompanies (Press release).
- ^ News, Bloomberg (31 October 1992). "Company News; Cooper Held Liable for Some Breast Implants". The New York Times.
{{cite web}}:|last1=has generic name (help) - ^ "Thousands of youngsters take part in Eastleigh Borough Council's free sports scheme". Daily Echo.
- ^ "Optometry Today" (Press release). Archived from the original on October 19, 2013.
- ^ "CooperVision converts three Rochester, NY facilities to wind power". Daily Energy Insider.
{{cite web}}: Missing or empty|url=(help); Text "url https://dailyenergyinsider.com/news/18631-coopervision-converts-three-rochester-ny-facilities-to-wind-power/" ignored (help) - ^ "INDUSTRIALES PREMIAN LA EXCELENCIA EN SUSTENTABILIDAD AMBIENTAL EMPRESARIAL". Industriales Puerto Rico (in Spanish).
{{cite web}}: Missing or empty|url=(help); Text "url http://industrialespr.org/industriales-premian-la-excelencia-en-sustentabilidad-ambiental-empresarial/" ignored (help) - ^ "Puerto Rico Honors CooperVision for Environmental Efforts Around Water Sustainability Practices". Vision Monday.
{{cite web}}: Missing or empty|url=(help); Text "url https://www.visionmonday.com/latest-news/article/puerto-rico-honors-coopervision-for-environmental-efforts-around-water-sustainability-practices/" ignored (help) - ^ "CooperVision Costa Rica manufacturing plant earns LEED Silver Certification". Global Manufacturing.
{{cite web}}: Missing or empty|url=(help); Text "url https://www.manufacturingglobal.com/leadership/coopervision-costa-rica-manufacturing-plant-earns-leed-silver-certification" ignored (help)
External links
- Official website
- Business data for The Cooper Companies: