|The Biolab Group|
|LITTLE FALLS, N.J.--July 23, 2003
CANTEL MEDICAL CORP. (NYSE: CMN), as part of its strategic plan of expanding its infection prevention and control business, today announced its entry into the water treatment industry with the acquisitions of Mar Cor Services and The Biolab Group. The acquisitions, with a combined purchase price of approximately $16,300,000 in cash (including assumption of debt), are expected to provide Cantel with additional combined revenues of approximately $20,000,000. Additional payments of up to $3,000,000 will be payable if specified operating targets are achieved over the next three years. Both transactions, subject to standard terms and conditions, are expected to close in early August 2003 and be accretive in the 2004 fiscal year.
About Mar Cor Services, Inc.
Mar Cor, founded in 1971 and based in Skippack, PA, provides water treatment equipment design, project management, installation, maintenance, service deionization, and mixing systems to the medical community. Mar Cor also offers high purity water systems to the research and pharmaceutical industries. Mar Cor operates in 12 cities in the U.S. with three resin regeneration plants strategically located in Skippack, PA, Chicago, IL, and Atlanta, GA.
About The Biolab Group
Biolab, founded in 1969, specializes in "ultra-pure water" for the medical, pharmaceutical, biotechnology, research and semiconductor industries. With operations in Oakville, Ontario, Dorval, Quebec, and Telford, PA, Biolab provides a wide range of high-performance products from simple point of use service deionization systems up to turnkey, large-volume complex Pharmaceutical/Biotech systems.
Cantel Medical Corp., a healthcare company, is a leading provider of infection prevention and control products, specialized medical device reprocessing systems and sterilants, diagnostic imaging and therapeutic medical equipment primarily focused on endoscopy, hollow fiber membrane filtration and separation technologies for medical and non-medical applications, and scientific instrumentation. The Company also provides technical maintenance services for their own products, as well as for certain competitors' products.