LITTLE FALLS, N.J., Aug. 1, 2016 /PRNewswire/ -- CANTEL MEDICAL CORP. (NYSE: CMN), a leading global company dedicated to delivering innovative infection prevention products and services, today announced that it has acquired Accutron, Inc., the industry leading manufacturer of nitrous oxide delivery systems and single-use nasal masks, for a purchase price of approximately $52.5 million in cash consideration.
For the calendar year ending December 31, 2015, Accutron reported revenues (unaudited) of $20.5 million. Cantel anticipates the acquisition to be accretive to GAAP and Non-GAAP earnings per share in the fiscal year ending July 31, 2017 and beyond.
Jorgen B. Hansen, President and CEO of Cantel said, "We are pleased to welcome Accutron to the Cantel family. The addition of Accutron's portfolio of high quality, conscious sedation single-use nasal masks and equipment will further differentiate our infection prevention product offering. Single-use nasal masks are critical to eliminating cross-contamination of infectious pathogens between patients, and remains consistent with our strategy of providing customer solutions aimed at infection prevention and patient safety."
Gary Steinberg, President and CEO of Crosstex International, said, "Approximately 45 million dental patients undergo anesthesia annually in North America, with nitrous oxide constituting a significant component of such anesthesia in about half of these procedures. The acquisition of the market leader in nitrous oxide single-use nasal masks and equipment allows us to not only further expand our presence in the dental practice, but also further enhance our comprehensive portfolio of infection prevention products. We look forward to continuing our drive to provide complete infection prevention solutions for dental practices globally."
The acquisition of Accutron will expand the dental portfolio of Crosstex International, Cantel's Healthcare Disposables segment, to include an additional high quality branded single-use disposable product line. In addition, this marks the Company's first entry into the dental equipment market, enabling Cantel to expand its presence in dental offices and offer a full bundled portfolio of equipment and consumables.
About Crosstex International
Crosstex International, a Cantel Medical Company, manufactures a wide array of unique and innovative infection prevention and compliance products for the global healthcare industry. Founded in 1953 and headquartered in Hauppauge, New York, Crosstex International is a recognized leader for its portfolio of waterline treatment, biological monitoring, sterility assurance packaging and personal protection equipment (PPE). Sold in more than 100 countries, the range of products distributed to medical, dental and veterinary practices and facilities include our award winning (5 consecutive years) Secure Fit technology face masks, DentaPure waterline treatment cartridges and Liquid Ultra, Sure-Check sterilization pouches with internal/external multi-parameter indicators, Tyvek pouches with 510K approval, SteamPlus Type 5 chemical integrators, ConFirm and Passport Plus in-office and mail-in biological indicators, Rapicide OPA/28 high level disinfectant. For information on the full line of Crosstex infection prevention, patient safety and compliance products, please contact Crosstex at 631-582-6777 or visit www.crosstex.com.
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.
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.