LITTLE FALLS, N.J.,
Feb. 14, 2011 /PRNewswire/ -- CANTEL
MEDICAL CORP. (NYSE: CMN), through its Crosstex International
subsidiary, has further expanded its infection prevention and
control business by purchasing the sterilization monitoring
business of ConFirm Monitoring Systems, Inc. Based in
Denver, Colorado, ConFirm is one
of the leading providers of biological monitoring services in
North America.
ConFirm offers both a mail-in service and in-office spore test
kits for healthcare professionals to verify the performance of
their sterilizers in accordance with industry guidelines for daily
or weekly testing. With approximately $4.0 million in GAAP sales, the privately-held
enterprise was founded 10 years ago and conducts over two million
tests per year. The purchase price is comprised of
$7.5 million in cash at closing and
contingent consideration of up to an additional $1.0 million based on achievement of specified
sales levels through January 31,
2012. The transaction is expected to be slightly
accretive to Cantel's earnings per share in the first full fiscal
year.
According to Gary Steinberg, CEO
of Crosstex, "ConFirm is an ideal addition to our sterilization
product portfolio. Given that the sterilizer is a critical
component of infection control in every dental office and most
healthcare facilities, we want to provide the most effective tools
to ensure it is functioning properly. When used in
conjunction with our patent-pending Sure-Check®
sterilization pouch, ConFirm's biological monitoring systems enable
us to provide the highest form of sterility assurance."
Andrew Krakauer, CEO of Cantel
Medical added, "I am very impressed with the employees, operations,
and high service-orientation of ConFirm. We are delighted that
Mark Frampton will continue as the
general manager for at least the first year. Crosstex will be
retaining the Denver operation and
all of the aligned employees to ensure a smooth transition for all
distributors and end-users. I see this as a great opportunity
to leverage the strong sales and marketing capabilities of our
Crosstex platform."
About Crosstex International
A subsidiary of Cantel Medical Corp., Crosstex, founded in 1953,
has its headquarters and major manufacturing operations in
Hauppauge, New York. Sold
throughout the world, Crosstex branded and private label products
include sterilization pouches and accessories, face masks, patient
towels and bibs, disinfectants, germicidal wipes, hand care
products, gloves, eyewear, sponges, cotton products, scalpels and
blades, sharps containers, saliva ejectors and evacuation tips.
For further information, visit the Crosstex website at
http://www.crosstex.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 water purification equipment, sterilants,
disinfectants and cleaners, specialized medical device reprocessing
systems for endoscopy and renal dialysis, disposable infection
control products primarily for the dental industry, dialysate
concentrates and other dialysis supplies, 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 further information,
visit the Cantel website at 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.
SOURCE Cantel Medical Corp.