LITTLE FALLS, N.J.,
Oct. 2, 2019 /PRNewswire/
-- CANTEL MEDICAL CORP. (NYSE: CMD) announced today
that it has completed its previously announced acquisition of
Hu-Friedy Mfg. Co LLC, a 111-year-old global leading manufacturer
of instruments and instrument reprocessing workflow systems serving
the dental industry. The purchase price payable at closing for the
acquisition consisted of 751,471 shares of Cantel common stock and
$665 million in cash, subject to
customary adjustments. As previously disclosed, the transaction
structure is anticipated to result in tax benefits to Cantel
presently valued at more than $100 million.
About Cantel Medical Corp.
Cantel 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. The Company's 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, Cantel provides technical service for its
products.
For further information, visit www.cantelmedical.com.
About Hu-Friedy
Founded in Chicago in 1908 by Hugo
Friedman, Hu-Friedy Mfg. Co., LLC is a global leading
manufacturer of dental instruments, and provider of instrument
reprocessing workflow systems, that has served the dental industry
for over 111 years. Acquired in 1959 by Dick Saslow and
the Saslow family, and currently led by Chairman and CEO Ron
Saslow, Hu-Friedy helps dental professionals perform at their best
by producing dental instruments, infection prevention
solutions and unique customer experiences designed to function as
an extension of each practitioner's skill. Its instruments,
hand-crafted by highly-skilled artisans, are known for their
precision, performance, quality and for the essential role they
play in the overall journey from student to practitioner.
Headquartered in Chicago, Hu-Friedy products are distributed
in more than 100 countries and the company maintains offices
in Germany, Italy, China and Japan.
For further information, visit www.hu-friedy.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain "forward-looking statements" as
that term is defined under the Private Securities Litigation Reform
Act of 1995 and other securities laws. For these statements, we
claim the protection of the safe harbor for forward-looking
statements contained in Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. These
statements are based on current expectations, estimates, or
forecasts about our businesses, the industries in which we operate,
and the current beliefs and assumptions of management; they do not
relate strictly to historical or current facts. Without limiting
the foregoing, words or phrases such as "expect," "anticipate,"
"goal," "project," "intend," "plan," "believe," "seek," "may,"
"could," "aspire," and variations of such words and similar
expressions generally identify forward-looking statements. In
addition, any statements that refer to predictions or projections
of our future financial performance, anticipated growth, strategic
objectives, performance drivers and trends in our businesses, tax
benefits and other characterizations of future events or
circumstances are forward-looking statements. Readers are cautioned
that these forward-looking statements are only predictions about
future events, activities or developments and are subject to
numerous risks, uncertainties, and assumptions that are difficult
to predict. We caution that undue reliance should not be placed on
such forward-looking statements, which speak only as of the date
made. Some of the factors which could cause results to differ
from those expressed in any forward-looking statement are set forth
under Item 1A, "Risk Factors" of our 2019 Annual Report on
Form 10-K. We expressly disclaim any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
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SOURCE Cantel Medical Corp.