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Cooper Cos. acquires specialty lens business

The Cooper Cos. Inc. acquired privately held Paragon Vision Sciences Inc.

Paragon is a provider of orthokeratology, specialty contact lenses and oxygen permeable rigid contact lens materials.

Cooper Cos. President and CEO Robert Weiss said the acquisition of Paragon will strengthen the company's specialty lens business.

Cooper said the transaction is valued at about $80 million and is expected to be neutral to earnings per share in fiscal 2018 excluding one-time charges and deal-related amortization.

Paragon had trailing-12-month revenues of about $15 million and is forecast to grow low double digits over the coming years.