LITTLE FALLS, N.J., July 31, 2017 /PRNewswire/ -- CANTEL MEDICAL CORP. (NYSE: CMD), a leading global company dedicated to delivering innovative infection prevention products, services and solutions, announced today that it entered into a definitive agreement to purchase BHT Hygienetechnik Holding GmbH ("BHT Group"), the German market leader in automated endoscope reprocessing and related equipment and services and flexible endoscope repair, for a cash purchase price of approximately $60.8 million on a cash-free and debt- free basis.
For the trailing twelve months ending May 31, 2017, BHT Group reported revenues of $24.5 million. Cantel anticipates the acquisition to be accretive to non-GAAP earnings per share in the fiscal year ending July 31, 2018 and beyond, and accretive to GAAP earnings per share in the fiscal year ending July 31, 2019 and beyond.
The business consists of a portfolio of high-quality automatic endoscope reprocessors, advanced endoscope storage and drying cabinets including the ENDODRY® Storage and Drying System, washer-disinfectors for central sterile applications, associated technical service and parts as well as endoscope repair services.
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The BHT Group has nearly 100 employees and a broad commercial sales and service organization as well as manufacturing and engineering, R&D and associated support functions to drive the business.
"Establishing leadership in our international markets is a key component of our strategy and this milestone will help us achieve this goal. The addition of BHT Group will enable us to become the market leader in automated endoscope reprocessors in Germany," stated Jorgen Hansen, President and CEO. "We're excited to combine BHT's expertise and the talent with our Cantel Germany operations. Together we will deliver a market leading portfolio of endoscopy products and services to our customers. This important milestone will also position us well for future growth in Germany as well as add new products with strong global potential."
"BHT Group is an excellent strategic fit with our Endoscopy division and aligns well with the growth aspirations outlined in our strategic plan," stated Dave Hemink, President, Medivators, the Company's Endoscopy division. "ENDODRY® Cabinets are an essential part of our future growth profile, and integrating this franchise into our portfolio will enable us to continue to innovate critical infection prevention products worldwide."
