Cantel Medical Acquires Pure Water Solutions, Inc.

… FURTHER ENHANCING ITS NATIONAL WATER PURIFICATION AND FILTRATION GEOGRAPHIC FOOTPRINT IN THE SOUTHEASTERN UNITED STATES

Jan 02, 2015, 08:30 ET from Cantel Medical Corp.

LITTLE FALLS, N.J., Jan. 2, 2015 /PRNewswire/ -- CANTEL MEDICAL CORP. (NYSE: CMN) today announced that it acquired the assets of Pure Water Solutions, Inc. for a purchase price of $11.9 million in cash consideration.  Headquartered in Ridgeland, Mississippi, Pure Water Solutions provides water purification and treatment services for commercial and industrial, laboratory and medical customers out of eight regional offices throughout the Southeastern United States.  The company had pre-acquisition unaudited revenues and EBITDA of just over $8 million and $2 million, respectively, for the trailing twelve months. This transaction is expected to be neutral to Cantel's GAAP EPS in FY15 and slightly accretive to its non-GAAP1 EPS in FY15, and is expected to be accretive on both a GAAP and non-GAAP[1] basis thereafter. 

Curtis Weitnauer, President and CEO of Mar Cor Purification, stated, "Adding the Pure Water Solutions business and its strategic Southeastern US market presence to our leadership position in life sciences water purification and filtration enables us to better serve our national customers and further expand our commercial and industrial segments. We expect to drive incremental growth with the addition of Mar Cor Purification's capabilities and broad portfolio of products and services."

Rob Simmons, Chief Executive Officer of Pure Water Solutions, will continue as an employee of Mar Cor Purification, where he will assist in the integration and continued service of the Pure Water Solutions customer base and the growth of the broader commercial and industrial water business.

About Cantel Medical Corp. Cantel Medical Corp. (NYSE: CMN) 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, and specialty packaging for infectious and biological specimens. Additionally, we provide technical service for our products.  For further information, visit the Cantel website at www.cantelmedical.com.

About Mar Cor Purification, Inc. Mar Cor Purification, Inc., a wholly-owned subsidiary of Cantel Medical Corp. (NYSE: CMN), is a water purification company and is the largest supplier of dialysis medical water systems in North America. It has service facilities in 27 cities in the United States and Canada including seven ion exchange resin regeneration plants strategically located in Atlanta, Boston, Chicago, Philadelphia, San Antonio, Montreal and Toronto. Mar Cor also provides turnkey water purification systems to high purity clients including pharmaceutical, cosmetics, semiconductor and other bacteria controlled applications. Unique hollow fiber filtration/separation products and Peracetic acid (PAA) disinfectants are provided through a worldwide distributor network. Visit our website at www.mcpur.com to find out more about Mar Cor Purification. http://www.mcpur.com/main/filtertech.html

About Pure Water Solutions Pure Water Solutions has been providing High Purity Water Treatment Systems throughout most of the Southern United States since 1969.  The Company was founded by Dr. John D. Bower to ensure high water quality for hemodialysis patients in Mississippi.  Over the years the company has grown to meet the increasing demand for hemodialysis services in the Southeast United States. Under the leadership of John M. Bower and subsequently Rob Simmons as CEO, the company has expanded to meet the needs of commercial and industrial customers in the region. Pure Water Solutions customers range from large industrial companies with complex ultrapure water treatment needs to those with simple deionized water applications.  Pure Water Solutions has an extensive network of regional offices with trained sales and service professionals.    

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.

[1] Non-GAAP EPS represents Earnings Per Share excluding acquisition-related intangible amortization as well as transaction-related expenses.  For further disclosure regarding non-GAAP items please refer to Cantel Medical's latest quarterly filing.

SOURCE Cantel Medical Corp.



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