Cantel Medical's Mar Cor Purification Subsidiary Acquires Eagle Pure Water Systems, Inc.
… Further Expanding its Nationwide Water Purification Service Footprint
LITTLE FALLS, N.J., Jan. 7, 2013 /PRNewswire/ -- CANTEL MEDICAL CORP. (NYSE: CMN), through its Mar Cor Purification subsidiary, has continued the expansion of its water purification and filtration segment by purchasing the assets of Pennsylvania-based Eagle Pure Water Systems, Inc. Eagle Pure Water provides water treatment services for laboratory, industrial and medical customers in the Philadelphia area. The acquired business had pre-acquisition revenues of approximately $0.5 million. This cash deal is expected to be modestly accretive to Cantel's earnings per share in fiscal year 2013 and beyond.
Curtis Weitnauer, President and CEO of Mar Cor Purification, stated, "Adding Eagle Pure Water's business and its strategic Philadelphia market presence to Mar Cor's leadership position in medical water enables us to better serve our national customers and further expand our business into the laboratory and research segments. We expect to drive incremental growth with the addition of Mar Cor's capabilities and broad portfolio of products and services."
Greg Comitz, Founder and President of Eagle Pure Water, has entered into a long-term employment agreement with Mar Cor Purification, where he will assist in the integration and continued service of the Eagle Pure Water customer base.
About Eagle Pure Water Systems, Inc.
Started in the 1990s, Eagle Pure Water services water systems, conducts installation and testing, offers ion exchange resin regeneration, and provides equipment services. Eagle Pure Water has developed a reputation of providing high quality service to prominent healthcare, laboratory and industrial customers.
About Mar Cor Purification, Inc.
A subsidiary of Cantel Medical Corp., Mar Cor Purification is dedicated to providing innovative solutions through filtration, water, and disinfection technologies to the medical, life science and industrial marketplaces. Mar Cor Purification has service offices in 19 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.
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