Stericycle Announces 6 More Acquisitions Bringing the Total to 25
DEERFIELD, Ill., July 28 /PRNewswire/ -- Stericycle, Inc. (Nasdaq: SRCL), the second largest provider of regulated medical waste management services in the U.S., announced today it has acquired the assets of six medical waste service companies. Management reported the acquisitions were completed utilizing a combination of cash, notes, and Stericycle, Inc. stock. The six acquisitions are expected to add revenues exceeding $2 million annually and represent continued progress in executing Stericycle's strategy of aggressively participating in the consolidation of the regulated medical waste service industry. With the addition of these new acquisitions Stericycle has now completed a total of eight acquisitions over the first seven months of 1998. "We believe these acquisitions will integrate nicely into our existing transportation and processing operations while concurrently leveraging our existing infrastructure," said Mark Miller, Stericycle's president and chief executive officer. "From a strategic perspective these acquisitions allow us to continue our geographic expansion in Texas and New Jersey while simultaneously improving our route density in New York, New Jersey, Wisconsin and Arizona." The companies acquired were Mediwaste Disposal Services LLP in Texas, Regional Recycling Inc. in New Jersey, Allegro Carting and Recycling Inc. in New York, Controlled Medical Disposal Inc. in New Jersey, the medical waste business of Superior Services of Wisconsin, Inc. and Arizona Hazardous Waste Disposal. Stericycle is the second-largest provider of regulated medical waste management services in the U.S. The Company's Electro-Thermal-Deactivation process destroys human pathogens without producing regulated air pollutants, and permits resource recovery. Stericycle operates on a multi-regional basis, providing medical waste collection, transportation, treatment, disposal, reduction and resource recovery. Safe Harbor Statement Statements in the press release which are not strictly historical are "forward-looking." Forward-looking statements involve known and unknown risks, which may cause the company's actual results in the future to differ materially from expected results. The risks and uncertainties that may affect the results of the Company's business include the following: difficulties and delays with respect to the completion and integration of acquisitions; delays and diversion of attention related to compliance with permitting and regulatory authorities; difficulties and delays with respect to marketing and sales activities; general uncertainties accompanying expansion into new markets.
SOURCE Stericycle, Inc.
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