Cooper Completes Sale

Cooper Cos.’ sale of its hospital properties could add 8 cents a share to its earnings from continuing operations if all proceeds are used to reduce debt, the Irvine medical devices company said Thursday.

Cooper said it completed the sale of the remaining properties of its Hospital Group of America psychiatric services business to Universal Health Services Inc., a Pennsylvania hospital management company, for $27 million in cash. The company said Universal Health may pay an additional $3 million if certain conditions are met. The company said it plans to invest the proceeds or pay down debt.