Cantel Medical

History

2021: Steris purchased Cantel Medical for $4.6 billion

In the middle of January, 2021 the equipment manufacturer for surgeons of Steris purchased the developer of consumables for dialysis and endoscopy of Cantel Medical for $4.6 billion. It is expected that the transaction will be closed by June 30, 2021 after approval of regulating authorities and shareholders of Cantel.

The transaction will allow Steris to add to the tools for endoscopy a full range of disposable means of disinfection of the high level and also other additional disposable accessories. Besides, thanks to dental division of Cantel the Steris company will be able to expand the business in a new segment. Steris products generally include sterilizers and washers, surgical tables, management systems for lighting and the equipment and also the different systems of integration for the operating room.

Steris purchased Cantel Medical for $4.6 billion

Cantel will become natural addition to products and services of Steris which will provide them the international scope, - the CEO of Steris Walt Rosebrough noted in the press release. - Our companies pay special attention to prevention of infections among a number of patients. Together we will offer a wide choice of products and services for prevention to more wide range of clients.

The CEO of Cantel Medical George Fotiades described merge as "ideal strategic decision". He considers that such transaction will become a natural stage of development of the company which will allow to accelerate implementation of an initiative of Cantel 2.0 and to increase the value of products for shareholders and suppliers of medical services.

Steris expects to finance a monetary part of remuneration according to the transaction and to repay a considerable part of the existing debt of Cantel at the expense of the new credit approximately for $2 billion according to the management, Steris already received interim financing.^[1]

Notes