Cantel Medical Announces CEO Succession

Jorgen B. Hansen to Become CEO on August 1, 2016

Mar 17, 2016, 09:43 ET from Cantel Medical Corp.

LITTLE FALLS, N.J., March 17, 2016 /PRNewswire/ -- CANTEL MEDICAL CORP. (NYSE: CMN) announced today that consistent with its long-term succession plan, Jorgen B. Hansen, Cantel's President and Chief Operating Officer will become President and Chief Executive Officer as well as become a member of the Board of Directors on August 1, 2016. Andrew A. Krakauer will step down from the CEO role and as a Director on July 31, 2016 and serve as a Senior Advisor until October 15, 2016. 

Charles M. Diker, Cantel's Chairman of the Board stated, "Cantel has a detailed succession planning process. Our CEO succession plan included hiring Jorgen Hansen almost 3½ years ago. Jorgen has been responsible for all day-to-day operations of the Company since he joined Cantel as COO and was one of the key architects of our strategic plan including our international expansion. Jorgen has also been integral to our great success over the past three years completing numerous acquisitions and then leading their successful integration into Cantel. We have great confidence that he is well prepared to lead the Company on its current successful course as its next Chief Executive Officer."

Mr. Hansen joined Cantel in November 2012 as EVP and COO and was promoted to President and COO in November 2014.  He also served as the senior executive of our Endoscopy business, the Company's largest segment, from when he started until July 2015. Prior to joining Cantel, Mr. Hansen was in global leadership positions with increasing responsibility within the healthcare and medical device industry for over fifteen years. He was Senior Vice President, Global Marketing, Business Development, Science and Innovation for ConvaTec Corp. Prior to that, he held leadership roles in Asia and Europe, ranging from General Manager, Division Head and Senior Vice President of Global Operations for Coloplast A/S. Mr. Hansen received his BS Degree in Mechanical Engineering from Denmark Technical University, and an International Commerce degree from the Copenhagen Business School in Denmark.

Mr. Diker added, "Andy Krakauer helped Cantel achieve unprecedented success during his 11½ year tenure.  Andy initially served as COO before being appointed President in 2008 and CEO in 2009. Under his leadership as Cantel's senior executive for the past eight years, the Company has become a recognized global leader in infection prevention while delivering impressive returns to our shareholders. We thank Andy for his tremendous leadership and service to Cantel." 

Mr. Krakauer added, "It has been a great honor to serve as the leader of Cantel. I am very proud of the executive team we have assembled over the past few years and I am extremely confident that we have the management now in place to run a company multiple times our current size. I strongly support Jorgen's promotion to CEO effective August 1, 2016 and look forward to a smooth transition over the next five months and to serving as a senior advisor and consultant to the Company beyond that."

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.

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.



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