LITTLE FALLS, N.J.,
July 31, 2017 /PRNewswire/ --
CANTEL MEDICAL CORP. (NYSE:CMD), a leading global company
dedicated to delivering innovative infection prevention products,
services and solutions, announced today that it entered into a
definitive agreement to purchase BHT Hygienetechnik Holding GmbH
("BHT Group"), the German market leader in automated endoscope
reprocessing and related equipment and services and flexible
endoscope repair, for a cash purchase price of approximately
$60.8 million on a cash-free and
debt- free basis.
For the trailing twelve months ending May
31, 2017, BHT Group reported revenues of $24.5 million. Cantel anticipates the
acquisition to be accretive to non-GAAP earnings per share in the
fiscal year ending July 31, 2018 and
beyond, and accretive to GAAP earnings per share in the fiscal year
ending July 31, 2019 and beyond.
The business consists of a portfolio of high-quality automatic
endoscope reprocessors, advanced endoscope storage and drying
cabinets including the ENDODRY® Storage and Drying
System, washer-disinfectors for central sterile applications,
associated technical service and parts as well as endoscope repair
services.
The BHT Group has nearly 100 employees and a broad commercial
sales and service organization as well as manufacturing and
engineering, R&D and associated support functions to drive the
business.
"Establishing leadership in our international markets is a key
component of our strategy and this milestone will help us achieve
this goal. The addition of BHT Group will enable us to become the
market leader in automated endoscope reprocessors in Germany," stated Jorgen Hansen, President and CEO. "We're excited
to combine BHT's expertise and the talent with our Cantel Germany
operations. Together we will deliver a market leading portfolio of
endoscopy products and services to our customers. This important
milestone will also position us well for future growth in
Germany as well as add new
products with strong global potential."
"BHT Group is an excellent strategic fit with our Endoscopy
division and aligns well with the growth aspirations outlined in
our strategic plan," stated Dave
Hemink, President, Medivators, the Company's Endoscopy
division. "ENDODRY® Cabinets are an essential part of
our future growth profile, and integrating this franchise into our
portfolio will enable us to continue to innovate critical infection
prevention products worldwide."
Subject to customary closing conditions, Cantel expects the
transaction to close at the end of August
2017.
About Cantel Medical
Cantel Medical is a leading
global company dedicated to delivering innovative infection
prevention 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. Additionally, we
provide technical service for our products.
For further information, visit the Cantel website at
www.cantelmedical.com.
About Medivators
Medivators, a Cantel Medical Company,
is a medical technology innovator of life-impacting solutions for
over 35 years. Medivators provides a full circle of infection
prevention solutions through a comprehensive offering in two
critical areas: endoscope reprocessing and endoscopy procedure
products. The company's endoscope reprocessing products include a
full range of endoscope reprocessing systems, high-level
disinfectants and sterilants, detergents, leak testing and manual
cleaning products, storage cabinets, endoscope process tracking and
related consumables, accessories and supplies.
Medivators offerings improve healthcare and touch millions of
lives in over 30 countries.
For more information please visit www.medivators.com
About BHT Group
BHT Group is the parent company of BHT
Hygienetechnik GmbH and ESCAD Medical GmbH.
BHT Hygienetechnik is the leading German manufacturer of
automated endoscope reprocessors and instrument washer disinfectors
and related service and accessories. ESCAD
Medical specializes in high-quality endoscope storage and
drying solutions as well as flexible endoscope repair services. For
more information please
visit https://bht.de/en and http://www.escad-medical.com/en/start/.
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.
View original
content:http://www.prnewswire.com/news-releases/cantel-medical-to-acquire-bht-group-in-germany-300496374.html
SOURCE Cantel Medical Corp.