|June 2, 2004
Cantel Medical Acquires Saf-T-Pak; Extending its Infection Prevention and Control Strategy into Specialized Packaging
LITTLE FALLS, N.J., Jun 2, 2004 -- CANTEL MEDICAL CORP. (NYSE: CMN), as part of its strategic plan to expand its infection prevention and control business, has acquired Saf-T-Pak Inc., a niche company providing products and training services for the safe transportation of infectious and biological specimens such as human and animal blood, tissue samples, vaccines, etc. For its most recent fiscal year Saf-T-Pak reported revenues and pre-tax income of approximately $5.0 million and $1.8 million, respectively. The acquisition is expected to be accretive in Cantel's 2005 fiscal year. The purchase price was $8.5 million, with a further $3.0 million potential earnout over three years based on operating results.
About Saf-T-Pak Inc.
Saf-T-Pak, founded in 1988 and based in Edmonton, Canada, is a designer and manufacturer of specialized packaging for the safe transport of infectious and biological specimens. In March of 1989 Saf-T-Pak's product became the first packaging system in the world to be certified by a national authority, Transport Canada, for the transport of infectious substances. In addition to their packaging systems that meet or exceed all national and international standards, Saf-T-Pak offers a full array of compliance training services ranging from software and internet sessions to group seminars and private on-site programs.
About Cantel Medical Corp.
Cantel Medical Corp., a healthcare company, is a leading provider of infection prevention and control products and services. The Company provides medical device reprocessing systems, sterilants, and disinfectants for renal dialysis and endoscopy, diagnostic imaging and therapeutic medical equipment principally focused on endoscopy, hollow fiber membrane filtration and separation technologies for medical and non-medical applications, water treatment equipment and services for medical, pharmaceutical, and other diverse disciplines, and scientific instrumentation. The Company also provides technical maintenance services for their own products, as well as for certain competitors' products.