Healthcare Equipment and Supplies
Company Overview of CooperVision, Inc.
CooperVision, Inc. designs and manufactures contact lenses and related products/services. It offers daily replacement, silicone hydrogel daily disposable contact, monthly replacement, two-week replacement, spherical, toric, soft contact, and multifocal lenses for nearsighted or farsighted, and astigmatism or presbyopia. It sells its products to customers in the United States and internationally. CooperVision, Inc. was formerly known as Coopervision Ophthalmic Products, Inc. and changed its name to CooperVision, Inc. in August 1991. The company was founded in 1959 and is based in Victor, New York. CooperVision, Inc. operates as a subsidiary of The Cooper Companies Inc.
209 High Point Drive
Victor, NY 14564
Founded in 1959
Key Executives for CooperVision, Inc.
President and Chief Operating Officer
Chief Financial Officer and Vice President
President of North America
Vice President and General Counsel
Senior Vice President of Global Professional & Clinical Affairs
Compensation as of Fiscal Year 2016.
CooperVision, Inc. Key Developments
CooperVision, Inc. Unveils Biofinity Energys™ Contact Lenses
Jun 29 16
CooperVision, Inc. announced the introduction of Biofinity Energys™ with Digital Zone Optics™ lens design, pioneering contact lenses specifically created from the ground up for millions of digital device users. Combining breakthrough optical properties, a moisture-retaining material and a smooth, naturally wettable surface for long-lasting comfort, the patent-pending contact lenses are being rolled out in the United States on a phased basis beginning in July, and will enter select European markets later this year. CooperVision® Biofinity Energys™ contact lenses are designed for all-day wear, helping people’s eyes better adapt so they can seamlessly and continuously shift focus between digital devices and offline activities. After one week of wear, eight out of ten digital device users agreed that Biofinity Energys™ lenses made their eyes feel less tired. Two elements are at the heart of the lens’ performance and optimization for digital device users: Digital Zone Optics™ lens design, the breakthrough that integrates multiple front-surface aspheric curves across the entire optical zone. This simulates what’s known as positive power in the center of the lens, helping reduce strain on the eyes’ ciliary muscle as a person moves their gaze from on-screen to off-screen and back with less effort; Aquaform® Technology, which attracts and binds water throughout the lens material to retain moisture even during times of reduced blinking, which is common with device use. This helps alleviate dry eyes, providing the hydration, breathability, and softness that healthy eyes deserve. The lenses also incorporate a smooth, naturally wettable surface design with a special rounded edge. This reduces interaction between the lens and the inside of the eyelids, improving long-lasting wearing comfort. Biofinity Energys™ lenses are designed to be replaced monthly, and require similar care and handling as other soft contact lenses to ensure a healthier wearing experience. Consumers should consult with their eye care professional before wearing this or any other lens.
CooperVision, Inc. Announces Earnings Results for the Second Quarter of 2016; Provides Earnings Guidance for the Third and Fourth Quarter and Full Year of 2016
Jun 2 16
CooperVision, Inc. announced earnings results for the second quarter of 2016. For the period, the company reported revenues of $391 million, up 9%. Operating income was $102.4 million against $88.8 million in the prior year.
For the year, the company expects effective tax rate is expected to be around 8%. Revenue is expected to be 5.5% to 7% constant currency growth.
For the third and fourth quarter the company expects expect gross margins around 64% each quarter.
EP Global Communications, Inc. Reaches Settlement Agreement with CooperVision, Inc
Jan 7 16
EP Global Communications, Inc. executed a Settlement Agreement with CooperVision Inc. on December 31, 2015. In 2014, the two Companies worked together to jointly develop advanced contact lens technology concepts. On December 31, 2015 the parties executed a Settlement Agreement setting the parties' respective rights in the jointly filed patent applications and allowing each party to separately and independently pursue these contact lens concepts. The settlement also addresses the ongoing prosecution of several related joint patent applications. CooperVision is to pay EPGL an undisclosed cash component and will retain certain rights to use the technologies disclosed in the jointly filed patent applications to develop and commercialize contact lenses and relinquish all rights to other patent applications filed by EPGL. In exchange, EPGL gains sole ownership and control of the jointly filed patent applications and unlimited worldwide marketing right to license the technologies disclosed in the jointly filed patent applications to all other manufacturers and partners worldwide. EPGL will earn 100% of all future revenues from such potential deals going forward.
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