LITTLE FALLS, N.J.,
Feb. 3, 2016 /PRNewswire/
-- CANTEL MEDICAL CORP. (NYSE: CMN), has entered into a
definitive agreement with North American Science Associates, Inc.
(NAMSA) to acquire NAMSA's Sterility Assurance Monitoring Products
division for $13.5 million in cash
consideration. For the year ending December 31, 2015 this business had adjusted
sales of $5.7 million. The
Sterility Assurance Monitoring Products division manufactures a
broad suite of high-quality biological and chemical indicators
which are used to accurately monitor the effectiveness of
sterilization processes. These indicators are designed
primarily for the industrial segment serving medical device, life
science and other manufacturers, representing a new end-market for
Cantel's Healthcare Disposables segment.
This transaction is expected to be neutral to GAAP earnings per
share and slightly accretive to Non-GAAP earnings per share in
fiscal year ending July 31, 2016 and
accretive to both GAAP and Non-GAAP earnings per share in fiscal
year 2017 and beyond. NAMSA's sterility assurance products
will be integrated into the Crosstex product portfolio and reported
in the Healthcare Disposables segment.
Gary Steinberg, President and CEO
of Crosstex said, "This acquisition not only allows us to expand
our sterility assurance product offering, but also broadens our
presence into the important industrial market segment. We
look forward to delivering to these customers a high-quality
sterility assurance product offering they have come to expect from
the NAMSA product line, and are excited to provide additional
product solutions to these customers with Crosstex's complete
infection prevention and control product portfolio."
Subject to customary closing conditions, Cantel Medical expects
the transaction to close in the third quarter of Fiscal Year
2016.
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.
About Crosstex
Crosstex, a Cantel Medical company, manufactures a wide array of
unique and innovative infection prevention and compliance products
for the global healthcare industry. Founded in 1953 and
headquartered in Hauppauge, New
York, Crosstex is a recognized leader for its portfolio of
waterline treatment, biological monitoring, sterility assurance
packaging and personal protection equipment (PPE). Sold in
more than 100 countries, the range of products distributed to
medical, dental and veterinary practices and facilities include our
award winning (5 consecutive years) Secure Fit® technology face
masks, DentaPure waterline treatment cartridges, Sure-Check®
sterilization pouches with internal/external multi-parameter
indicators, Tyvek® pouches with 510K approval, SteamPlus™Type5
chemical integrators, ConFirm®and Passport®Plus in-office and
mail-in biological indicators, Rapicide® OPA/28 high level
disinfectant.
For information on the full line of Crosstex infection
prevention and compliance products, please contact Crosstex at
631-582-6777 or visit www.crosstex.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.