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This special section
describes the continuing opportunity for CSI in women's healthcare.
In it, we review the market opportunity and important emerging
trends, discuss CSI's approach to consolidating the market
and integrating businesses and explain the unique mix of product
and distribution strategies that will support our future growth.
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In 1990, CooperSurgical, sensing a long-term
opportunity, launched a strategy to consolidate the highly fragmented
women's healthcare medical device market by acquiring businesses and
product lines that primarily serve the obstetrician/gynecologist (Ob/Gyn).
CSI is now at the forefront of women's healthcare, a growing market
driven by favorable demographics and advancing technology. Its sales,
approaching $50 million annually, represent 23 percent of Cooper's
total revenue. Operating margin is expected to approach 20 percent
in the second half of 2001.
The market consolidation strategy continues: CSI has added 11 major
products or product lines to date – four in the past 18 months. This
strategy fits well with Cooper's strong cash flow. The cash generated
by CooperVision coupled with the $139 million of net operating losses
remaining at the end of fiscal 2000, allows CSI to readily compete
for the superb opportunities available in women's healthcare.
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