LITTLE FALLS, N.J.,
Jan. 2, 2015 /PRNewswire/
-- CANTEL MEDICAL CORP. (NYSE: CMN) today announced that it
acquired the assets of Pure Water Solutions, Inc. for a purchase
price of $11.9 million in cash
consideration. Headquartered in Ridgeland, Mississippi, Pure Water Solutions
provides water purification and treatment services for commercial
and industrial, laboratory and medical customers out of eight
regional offices throughout the Southeastern United States.
The company had pre-acquisition unaudited revenues and EBITDA of
just over $8 million and $2 million, respectively, for the trailing twelve
months. This transaction is expected to be neutral to Cantel's GAAP
EPS in FY15 and slightly accretive to its non-GAAP1 EPS
in FY15, and is expected to be accretive on both a GAAP and
non-GAAP[1] basis thereafter.
Curtis Weitnauer, President and
CEO of Mar Cor Purification, stated, "Adding the Pure Water
Solutions business and its strategic Southeastern US market
presence to our leadership position in life sciences water
purification and filtration enables us to better serve our national
customers and further expand our commercial and industrial
segments. We expect to drive incremental growth with the addition
of Mar Cor Purification's capabilities and broad portfolio of
products and services."
Rob Simmons, Chief Executive
Officer of Pure Water Solutions, will continue as an employee of
Mar Cor Purification, where he will assist in the integration and
continued service of the Pure Water Solutions customer base and the
growth of the broader commercial and industrial water business.
About Cantel Medical Corp.
Cantel Medical Corp. (NYSE:
CMN) Cantel Medical is a leading global company dedicated to
delivering innovative infection prevention and control products and
services for patients, caregivers, and other healthcare providers
which improve outcomes, enhance safety and help save lives.
Our products include specialized medical device reprocessing
systems for endoscopy and renal dialysis, advanced water
purification equipment, sterilants, disinfectants and cleaners,
sterility assurance monitoring products for hospitals and dental
clinics, disposable infection control products primarily for dental
and GI endoscopy markets, dialysate concentrates, hollow fiber
membrane filtration and separation products, and specialty
packaging for infectious and biological specimens. Additionally, we
provide technical service for our products. For further
information, visit the Cantel website at www.cantelmedical.com.
About Mar Cor Purification, Inc.
Mar Cor Purification,
Inc., a wholly-owned subsidiary of Cantel Medical Corp. (NYSE:
CMN), is a water purification company and is the largest supplier
of dialysis medical water systems in North America. It has service facilities in 27
cities in the United States and
Canada including seven ion
exchange resin regeneration plants strategically located in
Atlanta, Boston, Chicago, Philadelphia, San
Antonio, Montreal and
Toronto. Mar Cor also provides
turnkey water purification systems to high purity clients including
pharmaceutical, cosmetics, semiconductor and other bacteria
controlled applications. Unique hollow fiber filtration/separation
products and Peracetic acid (PAA) disinfectants are provided
through a worldwide distributor network. Visit our website at
www.mcpur.com to find out more about Mar Cor Purification.
http://www.mcpur.com/main/filtertech.html
About Pure Water Solutions
Pure Water Solutions has
been providing High Purity Water Treatment Systems throughout most
of the Southern United States
since 1969. The Company was founded by Dr. John D. Bower to ensure high water quality for
hemodialysis patients in Mississippi. Over the years the
company has grown to meet the increasing demand for hemodialysis
services in the Southeast United
States. Under the leadership of John
M. Bower and subsequently Rob
Simmons as CEO, the company has expanded to meet the needs
of commercial and industrial customers in the region. Pure Water
Solutions customers range from large industrial companies with
complex ultrapure water treatment needs to those with simple
deionized water applications. Pure Water Solutions has an
extensive network of regional offices with trained sales and
service professionals.
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.
[1] Non-GAAP EPS represents Earnings Per Share excluding
acquisition-related intangible amortization as well as
transaction-related expenses. For further disclosure
regarding non-GAAP items please refer to Cantel Medical's latest
quarterly filing.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cantel-medical-acquires-pure-water-solutions-inc-300014913.html
SOURCE Cantel Medical Corp.