Cooper Companies Inc (NYSE: COO) is a medical device company that develops, manufactures, and sells contact lenses and women's health and fertility products. Revenue is transactional, generated through product sales and services across two segments: CooperVision and CooperSurgical. CooperVision competes in the worldwide contact lens market with silicone hydrogel lenses, single-use and monthly modalities, toric, multifocal, and myopia management products, including MiSight 1 day, the first and only FDA-approved lens indicated to slow myopia progression in children aged 8 to 12. CooperSurgical sells fertility products and services, medical devices, cryostorage services (cord blood and cord tissue), and contraception products to OB/GYN offices, hospitals, ambulatory surgery centers, and fertility clinics. As of October 31, 2025, the company carried $2,456.3 million in outstanding borrowings across its 2024 revolving credit facility and 2021 term loan, making it a debt-heavy capital structure. The company is headquartered in California and operates manufacturing and distribution sites across the United States, United Kingdom, Hungary, Belgium, Puerto Rico, Netherlands, Canada, and Australia.

Revenue model

Transactional product sales of contact lenses through field sales representatives, distributors, eye care practitioners, optical chains, and mass merchandisers. CooperSurgical generates revenue from medical device sales and fertility services, including direct-to-consumer cryostorage, sold through OB/GYN offices, hospitals, ambulatory surgery centers, fertility clinic networks, and integrated delivery networks.

Products and services

CooperVision: silicone hydrogel contact lenses (Aquaform technology), spherical, toric, multifocal, and toric multifocal lenses in single-use and monthly modalities, MiSight 1 day myopia management lens (FDA-approved, Chinese NMPA-approved, Japanese MHLW-approved), orthokeratology (ortho-k) lenses, and scleral lenses. CooperSurgical: fertility products and services, women's health medical devices, cord blood and cord tissue cryostorage, contraception products, and stem cell storage services.

Customers and end markets

CooperVision sells to optometrists, ophthalmologists, opticians, optical chains, distributors, and mass merchandisers offering eye care services. End markets include general contact lens wearers and children undergoing myopia management. CooperSurgical sells to OB/GYN offices, hospitals, ambulatory surgery centers, fertility clinics, large group practices, and integrated delivery networks, as well as direct-to-consumer for cryostorage. Key account focus includes large group practices and fertility clinic networks.

Value-chain role

Vertically integrated manufacturer and distributor. Cooper Companies manufactures products at company-owned facilities and distributes through its own distribution centers. CooperVision distributes from Belgium, Hungary, the United Kingdom, and the United States. CooperSurgical distributes from the United States and the Netherlands, and operates fertility and stem cell storage facilities in the United States, Canada, and Australia.

Geographic exposure

Global operations with manufacturing and distribution in the United States, United Kingdom, Hungary, Belgium, Puerto Rico, Canada, Costa Rica, Netherlands, and Australia. Smaller distribution, marketing, and administrative sites exist across multiple additional international locations. MiSight 1 day holds regulatory approvals in the United States, China, and Japan.

Source: SEC 10-K, filed 2025-12-05

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