Cantel Medical's Mar Cor Purification Subsidiary Acquires G.E.M. Water Systems ... Establishing a Nationwide Reach in Water Trea
August 03 2009 - 8:30AM
PR Newswire (US)
LITTLE FALLS, N.J., Aug. 3 /PRNewswire-FirstCall/ -- CANTEL MEDICAL
CORP. (NYSE:CMN), through its Mar Cor Purification subsidiary, has
continued the expansion of its water purification and filtration
segment by purchasing the assets of Los Angeles-based G.E.M. Water
Systems Int'l, LLC. G.E.M. designs, builds, installs and services
high quality water equipment for dialysis clinics in the Western
U.S. The acquired business had pre-acquisition revenues of
approximately $3.5 million. This cash deal is expected to be
slightly accretive to Cantel's earnings per share in the first
year. Curt Weitnauer, President of Mar Cor Purification, stated,
"Adding G.E.M.'s strong brand name and strategic Western Region
presence to Mar Cor's leadership position in medical water enables
us to better serve our national customers and further expand our
business. We will be adding an outstanding team and base of
business in a highly desirable region -- one with a great
concentration of dialysis clinics and healthcare institutions. We
expect to achieve incremental growth with the addition of Mar Cor's
broad portfolio of products and services. Furthermore, the
acquisition provides a foundation for a West Coast expansion of the
Mar Cor service business." Cantel's President and CEO, Andrew
Krakauer, added, "Building atop the success of our acquisition of
GE Water & Process Technologies' dialysis water business and
other Mar Cor acquisitions, we are continuing to implement our
strategy of creating a nationwide service network to meet the needs
of our customers. The opportunity to achieve both top and bottom
line synergies will strengthen our successful water purification
and filtration business, which has continued to improve its
performance year after year. I am very pleased with the leadership
of our Mar Cor group, and we will continue to invest both
organically and via acquisition in this business, which is now
Cantel's largest reporting segment in annual revenue. The team has
done an outstanding job bringing this deal to fruition." About
G.E.M. Water Systems Int'l, LLC Founded in 1981 by Jack Enkowitz,
G.E.M. Water Systems of Los Angeles, CA designs and builds high
purity water systems, conducts installation and testing, performs
maintenance, and provides a full complement of equipment services.
G.E.M. has developed a reputation of providing high quality service
to prominent healthcare customers with time-sensitive and critical
patient needs. About Mar Cor Purification A division of Cantel
Medical Corp., Mar Cor Purification is dedicated to providing
innovative solutions through filtration, water, and disinfection
technologies to the medical, life science and industrial
marketplaces. Mar Cor Purification has service offices in 17 cities
in the U.S. and Canada, with 6 resin regeneration plants
strategically located in Atlanta, Boston, Chicago, Philadelphia,
Montreal and Toronto. For more information please visit the Mar Cor
website at http://www.mcpur.com/. About Cantel Medical Corp. Cantel
Medical Corp. (NYSE:CMN) 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, 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. We
also provide technical maintenance for our products and offer
compliance training services for the transport of infectious and
biological specimens. For more information please visit
http://www.cantelmedical.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. DATASOURCE: Cantel
Medical Corp. CONTACT: Andrew A. Krakauer, President and CEO of
Cantel Medical Corp., +1-973-890-7220; or Richard E. Moyer of
Cameron Associates, Inc., +1-212-554-5466, Web Site:
http://www.cantelmedical.com/
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