Acquisition further advances global leadership position in
infection prevention through entry into healthcare information
analytics market
LITTLE FALLS, N.J.,
March 21, 2018 /CNW/ -- Cantel
Medical Corp. (NYSE: CMD) announced today that it has acquired
Aexis Medical BVBA ("Aexis Medical"), a company specializing in
advanced software solutions focused on the tracking and monitoring
of instrument reprocessing workflows for hospitals and healthcare
professionals. The total deal consideration was $24.8 million consisting of $21.1 million up-front consideration and
$3.7 million in an earnout structure
to be paid at the two-year anniversary of closing.
For the calendar year ending December 31,
2017, Aexis Medical reported revenues of $4.2 million.
Cantel Medical anticipates this transaction to be modestly dilutive
to GAAP EPS in both fiscal year 2018 and fiscal year 2019, and
anticipates this transaction to be neutral to fiscal year
2018 non-GAAP EPS and a few cents dilutive to fiscal year 2019
non-GAAP EPS as the company invests in this important platform.
Based in Belgium, the business
consists of unique, integrated information technology solutions
that offer an extensive and comprehensive system to support the
day-to-day management of instrument reprocessing workflows and data
reporting within complex hospital environments.
Aexis Medical employs nearly 60 employees comprised of software
development experts as well as a commercial sales and service
organization and other support functions to drive the business.
"We're excited that Aexis Medical is now part of Cantel and we
welcome their employees to our team. The integration of Aexis
Medical's robust IT solutions will enable us to transform how we
innovate and approach customers holistically to address their unmet
infection prevention needs using healthcare data analytics," stated
Jorgen Hansen, President and CEO.
"In addition, this acquisition also allows us to enter into a
largely untapped global market for healthcare information analytics
in infection prevention that will advance our business strategy and
better position us for future sustainable growth."
"Combining Cantel's complete circle of protection products with
Aexis Medical's proven platform will increase the value that we
provide to our customers," said Dave
Hemink, President of Cantel's Endoscopy Division. "The
addition of their systems and services allows us to expand our
current endoscopy portfolio and extend our footprint in the
hospital's Endoscopy Unit, Central Sterile Department, and
Operating Room where we can deliver advanced infection prevention
solutions to these customers."
About Cantel Medical
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. Additionally, we
provide technical service for our products.
For further information, visit the Cantel Medical website at
www.cantelmedical.com.
About Aexis Medical
Aexis Medical, and its affiliate, Ecode Lanka, specialize in
advanced software solutions focused on the tracking and monitoring
of instrument reprocessing workflows in the hospital, such as the
Central Sterilization Department (CSSD), the Operating Room (OR),
and the GI/Endoscopy Department. Aexis Medical's products and
services seamlessly interconnect with each other to achieve optimal
integration and drive workflow efficiencies and solutions within
the complex hospital environment.
For more information please visit www.aexis-medical.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.