Cook Medical has successfully divested its otolaryngology, head, and neck surgery (OHNS) product lines, selling the portfolio of medical devices for ear, nose, and throat procedures to C2Dx. This undisclosed transaction marks the completion of Cook’s strategic plan to streamline its focus. Notably, the deal excludes Cook’s employees, facilities, and manufacturing equipment. C2Dx, in addition to this acquisition, has recently partnered with private equity firm Shore Capital Partners. For Cook, this move follows a series of changes, including the sale of its reproductive health business and a prior portfolio sale. The company has been reshaping its operations according to its five-year vision and strategic plan, which also involved significant layoffs.
C2Dx, a medtech company, has been on an acquisition spree, including the recent purchases of devices from Stryker and Hemostatix. The deal with Cook encompasses devices used in various medical procedures, such as treating obstructive salivary disease, chronic ear disorders, nasal/sinus and skull base reconstruction, and dysphagia. D.J. Sirota, Senior Vice President of Cook’s medsurg division, stated that the OHNS product lines would be better served by an organization aiming for growth in that space. C2Dx, formerly Critical Care Diagnostics, was founded in 2019 and is led by CEO Kevin McLeod, who has a background at Stryker and has played a role in medical device acceleration and growth capital firms. Supported by Shore Capital, C2Dx continues to pursue further partnerships and business development opportunities.
In conclusion, Cook Medical’s strategic divestiture of its otolaryngology product lines to C2Dx signals a focused shift in its operations. The undisclosed transaction aligns with Cook’s dynamic restructuring efforts, while C2Dx, backed by Shore Capital Partners, continues its acquisition streak. This strategic move underscores the ever-evolving landscape of the medical technology industry.
