LITTLE FALLS, N.J., June 2 /PRNewswire-FirstCall/ -- CANTEL MEDICAL CORP. (NYSE: CMN), through its Mar Cor Purification subsidiary, has continued the expansion of its water purification and filtration segment by purchasing Texas-based Purity Water Company of San Antonio, Inc. Purity provides water treatment equipment and services for laboratory, industrial, medical, pharmaceutical and semiconductor customers in Texas and neighboring states. The acquired business had pre-acquisition revenues of approximately $3.0 million. This cash deal is expected to be slightly accretive to Cantel's earnings per share in the first year.
Curt Weitnauer, President of Mar Cor Purification, stated, "Adding Purity's strong brand name and strategic Texas presence to Mar Cor's leadership position in medical water enables us to better serve our national customers and further expand our business into commercial and industrial segments. We expect to drive incremental growth with the addition of Mar Cor's capabilities and broad portfolio of products and services."
Cantel's President and CEO, Andrew Krakauer, added, "Building atop the success of our acquisition of GE Water & Process Technologies' dialysis water business and other Mar Cor regional acquisitions, we are continuing to execute our strategy of creating a nationwide service network to meet the needs of our customers. The opportunity to achieve both top and bottom line synergies and accelerate the pace of our growth in the South, particularly Texas, will strengthen our successful water purification and filtration business, which has continued to improve its performance year after year. I am very pleased with the leadership of our Mar Cor group, and we will continue to invest both organically and via acquisition in this business, which is now Cantel's largest reporting segment in annual revenue. The team has done an outstanding job bringing this deal to fruition."
About Purity Water Company of San Antonio, Inc.
Started in the 1930's, Purity builds and services water systems, conducts installation and testing, offers ion exchange resin regeneration, and provides a full complement of equipment services. Purity has developed a reputation of providing high quality service to prominent healthcare, commercial and industrial customers. For more information please visit http://www.purity-water.com.
About Mar Cor Purification, Inc.
A division 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, Montreal, Toronto and now San Antonio. 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 specialized medical device reprocessing systems for renal dialysis and endoscopy, dialysate concentrates and other dialysis supplies, disposable infection control products primarily for the dental industry, water purification equipment, sterilants, disinfectants and cleaners, 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. For more information please visit http://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.