Cantel Medical's Mar Cor Purification Subsidiary Acquires Fluid Solutions, Inc.; Extending Its Water Purification Reach into Ne
May 02 2006 - 8:00AM
Business Wire
Cantel Medical Corp. (NYSE: CMN), through its Mar Cor Purification
subsidiary, has expanded its infection prevention and control
business in water treatment by purchasing the assets of Fluid
Solutions, Inc. Fluid Solutions, based in Lowell, Massachusetts,
designs, manufactures, installs and services high quality, high
purity water systems for use in biotech, pharmaceutical, research,
hospitals, and semiconductor environments. For the year ended April
30, 2006, Fluid Solutions generated approximately $5,000,000 in
revenue. Mr. Andrew A. Krakauer, Executive Vice President and Chief
Operating Officer of Cantel, stated, "Fluid Solutions' strong brand
name in New England, superb service capability and a proven track
record of innovative design, is a perfect fit for our Mar Cor
Purification subsidiary. Through this acquisition we have added an
additional outstanding team and base of business in a highly
desirable region - one with great concentration of life sciences
companies as well as healthcare and research institutions. We
anticipate growing our business in Fluid Solutions' key markets, as
well as expanding further into the healthcare and industrial arena.
We foresee a number of operating synergies that will help drive
both top line and bottom line performance." Mar Cor Purification
will be retaining the employees of Fluid Solutions, including its
President, Mr. Brian Hagopian, who has entered into a three-year
employment agreement. Fluid Solutions, founded in 1989 and based in
Lowell, MA, designs and manufactures high purity water systems,
conducts installation and testing, performs maintenance, and
provides resin regeneration services. The Company has developed a
reputation of providing high purity water for high end water users
and has deployed systems in biotech, pharmaceutical, research,
hospitals, semiconductor and other industrial settings. Its founder
and current President, Mr. Brian Hagopian, has worked in the water
industry since 1981. Fluid Solutions was a wholly-owned subsidiary
of DENS Partners, Inc. For further information, visit the Fluid
Solutions web site at http://www.fluid-solutions.com. Cantel
Medical Corp. is a leading provider of infection prevention and
control products in the healthcare market. Our products include
specialized medical device reprocessing systems for renal dialysis
and endoscopy, dialysate concentrates and other dialysis supplies,
disposable infection control products primarily for the dental
industry, endoscopy and surgical products, water purification
equipment, sterilants, disinfectants and cleaners, hollow fiber
membrane filtration and separation products for medical and
non-medical applications, and specialty packaging for infectious
and biological specimens. The Company also sells scientific
instrumentation products, provides technical maintenance for its
products and offers compliance training services for the transport
of infectious and biological specimens. For further information,
visit the Cantel web site at http://www.cantelmedical.com and the
Mar Cor Purification web site at http://www.marcorpurification.com.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements involve a number of risks and uncertainties,
including, without limitation, the risks detailed in Cantel's
filings and reports with the Securities and Exchange Commission.
Such forward-looking statements are only predictions, and actual
events or results may differ materially from those projected or
anticipated.
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