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
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
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
SOURCE Stericycle, Inc.