Cantel Medical (CMN) Acquires Siemens (SI) Business Unit
3/25/2013 7:48:31 AM
LITTLE FALLS, N.J., March 25, 2013 /PRNewswire/ -- CANTEL MEDICAL CORP. (NYSE: CMN), through its Mar Cor Purification subsidiary, has continued the expansion of its water purification and filtration unit with the purchase of the hemodialysis water business from Siemens' Water Technologies business unit. With approximately 600 dialysis customers in the United States and Canada and 2012 revenue of approximately $9 million, this acquisition significantly expands Mar Cor Purification's North American footprint. The acquisition is expected to be slightly accretive to Cantel Medical's earnings per share in fiscal year 2013 and beyond.
Curtis Weitnauer, President and CEO of Mar Cor Purification, stated, "The acquisition of the Siemens hemodialysis water customer base enables Mar Cor to realize increased efficiencies from our existing field service operations while also expanding our footprint into new geographies. With this geographic expansion, Mar Cor will further improve its ability to service its large national customers. We look forward to continuing to provide our unique dialysis products and services to our new and existing customers."
Cantel Medical's President and CEO, Andrew Krakauer, added, "This acquisition strengthens our position as a leading provider of water purification products and services to the dialysis industry. Our advanced heat-based disinfection water technology coupled with our nationwide service footprint makes Mar Cor the best choice for infection prevention and control to our dialysis customers. We remain confident that our water purification and filtration segment will continue to demonstrate industry leading performance."
About Mar Cor Purification, Inc.
A subsidiary of Cantel Medical Corp., Mar Cor Purification is dedicated to providing innovative solutions through filtration, water purification, and disinfection technologies to the medical, life science and industrial marketplaces. Mar Cor Purification has service offices in 22 cities in the U.S. and Canada, with 7 resin regeneration plants strategically located in Atlanta, Boston, Chicago, Philadelphia, San Antonio, Montreal and Toronto. For more information please visit http://www.mcpur.com.
About Cantel Medical Corp.
Cantel Medical Corp. (NYSE:CMN) is a leading provider of infection prevention and control products in the healthcare market. Our products include water purification equipment, sterilants, disinfectants and cleaners, specialized medical device reprocessing systems for endoscopy and renal dialysis, disposable infection control products primarily for dental and GI endoscopy markets, dialysate concentrates and other dialysis supplies, hollow fiber membrane filtration and separation products for medical and non-medical applications, and specialty packaging for infectious and biological specimens. We also provide technical maintenance for our products and offer compliance training services for the transport of infectious and biological specimens.
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.
SOURCE Cantel Medical Corp.