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Cooper Launches New Closure System

Zacks Equity Research

CooperSurgical, a part of The Cooper Companies (COO), a company focused on contact lens and women’s health, recently revealed the launch of its Carter-Thomason II Port Closure System. This system allows rapid and safe closure of port sites for obese to regular patients going through a variety of laparoscopic operations. It has two constituent parts, namely the Suture Guide and the sophisticated Suture Passer.  

The Suture Guide ensures total closure including for peritoneum and fascia. This methodology preserves the pneumoperitoneum and allows precise positioning of the Suture Passer for steady outcomes with each closure.  

The latest Suture Passer comes with a new and improved design with extended and retractable fingers. It permits doctors to implement over a larger area for safer and faster recovery of sutures in the abdomen.  

The Carter-Thomason II Port Closure System permits accurate closure of fascia for a range of patients, ranging from average to those with morbid obesity. This prevents the occurrence of herniation at point of port location, which is a possible complication arising from minimally invasive procedures.

Cooper is a global medical products company specializing in a wide range of contact lenses for the vision correction market with a smaller strategic business unit for women’s health. It reportedly holds the number three position in the $6 billion global contact lens industry.

The outlook for the contact lens industry is favorable. Cooper has significant market share in high growth specialty lenses.

The company is a leader in the high-margin toric lens market. It offers multiple designs of toric lenses across a wide range of parameters, unlike some of its competitors, who offer toric lenses in a limited number of designs.

However, Cooper faces formidable competition in each of its major product lines. Competition comes from well established global contact lens makers such as Johnson & Johnson (JNJ) and Novartis AG (NVS). Depressed levels of consumer spending have heightened the competitive pressures on the company.

Our Outperform recommendation is supported by a short-term Zacks #2 Rank (Buy).

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