LITTLE FALLS, N.J.,
April 8, 2015 /PRNewswire/
-- CANTEL MEDICAL CORP. (NYSE: CMN) announced the sale
of its specialty packaging business, Saf-T-Pak, Inc., to Inmark,
LLC, a global packaging and service company, effective April 7, 2015.
"The sale of our Saf-T-Pak business enables Cantel Medical to
better focus on our core markets and strategic opportunities.
Specialty packaging no longer fits our strategic growth
objectives," said Andrew Krakauer,
CEO of Cantel Medical. "We thank the employees of Saf-T-Pak
for their dedicated service and we wish them success."
Net after-tax proceeds from this transaction are expected to be
approximately $7 million. This
transaction, including deal-related expenses, is anticipated to
result in a loss on sale of approximately $1.3 million or $0.03 in GAAP EPS and will be neutral to Adjusted
EPS in Cantel Medical's third quarter of fiscal year 2015.
The results of the Saf-T-Pak business had been reported in the
Other segment in Cantel Medical's SEC filings.
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 and hollow fiber membrane filtration and separation
products. Additionally, we provide technical service for our
products. For further information, visit the Cantel website
at 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.
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SOURCE Cantel Medical Corp.