LITTLE FALLS, N.J.,
Aug. 3, 2018 /PRNewswire/ -- Cantel
Medical Corp. (NYSE: CMD), announced today that it has
acquired Stericyle, Inc.'s (Nasdaq: SRCL) Controlled Environmental
Solutions business ("CES business") for a cash purchase price of
$17.0 million on a cash-free and
debt-free basis. The CES business, consisting of B&V Testing
and Certco services, is a leading provider of testing and
certification, environmental monitoring and decontamination
services for clean rooms and other controlled environments to
ensure safety, regulatory compliance and quality
control.
For the calendar year ending December 31,
2017, the CES business reported revenues of $8.9 million. Cantel anticipates the acquisition
to be accretive to non-GAAP earnings per share in the fiscal year
ending July 31, 2019 and beyond, and
accretive to GAAP earnings per share in the fiscal year ending
July 31, 2020 and beyond.
The CES business is made up of highly specialized testing and
certification services, control procedures and tailored
decontamination technology for the clean room to ensure optimal
performance of the environment and end-user compliance to highly
regulated industry standards.
"We are pleased that the CES business is now part of Cantel and
welcome their employees to our team. Their services are highly
complementary to our current portfolio of sterilization and
disinfection products, and enable us to expand the complete circle
of protection product offerings in our Life Sciences portfolio,"
stated Jorgen Hansen, President and CEO. "We're excited about
the attractive emerging market of clean room testing, certification
and decontamination and are optimistic that this platform will
position us well for meaningful growth in the future."
"This acquisition allows us to better serve customers in the
clean room products and services market," said Curt Weitnauer, President of Cantel's Water
Purification and Filtration Division. "By joining forces, we will
enhance the value we provide to existing and future customers by
coupling the CES Business' strong reputation for technical and
service excellence with our expertise to deliver high-quality, and
innovative infection prevention solutions."
About Cantel
Cantel 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 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.