The Cooper Companies

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The Cooper Companies, Inc.
Public
Traded as NYSECOO
S&P 500 Component
Industry Medical Devices
Predecessor Martin H. Smith Co., Cooper Tinsley Laboratories, Inc.
Founded 1958 (1958)
Founder Martin H. Smith Co
Headquarters Pleasanton, California
Area served
Worldwide
Key people
Robert S. Weiss, CEO & Director
Products Contact lenses, medical products and equipment for treating women
Revenue Increase US$1331 million (2011)[1]
Increase US$228 million (2011)[1]
Increase US$175 million (2011)[1]
Total assets Increase US$2625 million (2011)[1]
Total equity Increase US$1937 million (2011)[1]
Number of employees
Increase 7400 (2011)[1]
Divisions CooperVision (CVI), CooperSurgical (CSI)
Website www.coopercos.com

The Cooper Companies, Inc. is a US based, multinational company in the medical specialities sector. With its headquarters in Pleasanton, California, it has over 8,000 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] Cooper Companies 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[edit]

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 Cooper Companies, with CooperVision existing as a subsidiary.[5] 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.

The President and Chief Executive Officer & Director is Robert S. Weiss'.

Shareholders[edit]

Mutual fund holders 62.21% Other institutional 34.90% Individual stakeholders 1.13%[6]

Recalls[edit]

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.[7]

Litigation[edit]

In 2012 Cooper Companies, Inc settled $27.0 million on a claim brought by a group of stockholders after claims that Cooper Companies misled them about the problems they were facing with contact lenses produced overseas, contact lenses that were subsequently recalled.[8]

In 1988, Cooper Companies was involved in a case brought against them by Medical Engineering Corp, part of the Bristol-Myers Squibb Company, after they claimed that Cooper Companies had agreed to assume responsibility for breast implants that were manufactured while they still owned the business.[9] This was one of many lawsuits related to breast implants and the issue 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.

Products and Services[edit]

CooperSurgical:[10]

  • Obstetrics
  • Vacuum Assist Delivery Devices
  • Fetal Dopplers
  • Antepartum Fetal Monitors
  • Postpartum Products
  • Miscellaneous Obstetrical Disposables
  • Family Planning
  • Wide-Seal Silicone Diaphragm Kits
  • Surgical Solutions
  • Fertility Assessment
  • Intrauterine Insemination (IUI)
  • General Examination
  • Diagnostic Disposables
  • Examination Instruments
  • Miscellaneous
  • Civic Care
  • Colposcopy Systems
  • Colposcopy Instruments
  • LEEP Products and Accessories
  • Cryosurgery Products
  • Incontinence\Pelvic Floor
  • Urodynamic System
  • Pessaries
  • Surgical
  • General Surgery Products
  • Gynecology Surgery Products
  • Neonatal
  • Infant Nasal Cannula
  • Neonatal Endotracheal Tube Grip
  • Neonatal Skin Barrier
  • Neonatal Thermoregulation
  • Neonatal Transport Products
  • Assisted Reproduction
  • R.G. Edwards Embryo Transfer Products
  • SAGE® Oocyte Retrieval Needles
  • SAGE® Media
  • SAGE® Micromanipulation Media
  • Intrauterine Insemination (IUI)
  • Fertility Assessment
  • Cryopreservation Media
  • Andrology Media
  • Other Products

CooperVision®:[11]

  • MyDay® (SILMO d'OR award 2013[12]).
  • Avaira
  • Avaira Vitality:
  • Avaira Vitality Sphere
  • Avaira Vitality Toric
  • ClearSight:
  • ClearSight 1 Day
  • ClearSight 1 Day Toric
  • Hydrasoft:
  • Hydrasoft Sphere
  • Hydrasoft Toric/Options
  • Vertex:
  • Vertex Sphere
  • Vertex Toric
  • Biofinity:
  • Biofinity Sphere
  • Biofinity Sphere XR
  • Biofinity Toric
  • Biofinity Toric XR
  • Biofinity Multifocal
  • Biofinity Energys
  • Expressions:
  • Expressions Accents
  • Expressions Colors
  • Preference:
  • Preference Sphere
  • Preference Toric
  • Preference Toric XR
  • Biomedics:
  • Biomedics 55 Premier
  • Biomedics EP
  • Biomedics Toric
  • Biomedics XC
  • Frequency:
  • Frequency 38 Sphere
  • Frequency 55 Aspheric
  • Frequency 55 Multifocal
  • Frequency 55 Sphere
  • Frequency 55 Toric
  • Frequency 55 Toric XR
  • Proclear:
  • Proclear 1 Day
  • Proclear Multifocal
  • Proclear Multifocal Toric
  • Proclear Sphere
  • Proclear Toric
  • Proclear Toric XR
  • Disposable lens
  • Spherical lens
  • Medical devices
  • Accessories
  • Specialty lens:
  • Toric lenses
  • Cosmetic lenses
  • Multifocal lenses
  • Diagnostic products
  • Surgical instruments

Cooperative Giving[edit]

Through its subsidiary, CooperVision, Cooper Companies 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.[13] It also hosts a Student Research Scholarship which encourages optometry students to take part in contact lens-based research projects.[14]

See also[edit]

References[edit]

External links[edit]