Cantel Medical Acquires the Sterilization Monitoring Business of ConFirm Monitoring Systems

Cantel Medical CMN, through its Crosstex International subsidiary, has further expanded its infection prevention and control business by purchasing the sterilization monitoring business of ConFirm Monitoring Systems, Inc. Based in Denver, Colorado. ConFirm offers both a mail-in service and in-office spore test kits for healthcare professionals to verify the performance of their sterilizers in accordance with industry guidelines for daily or weekly testing. With approximately $4.0 million in GAAP sales, the privately-held enterprise was founded 10 years ago and conducts over two million tests per year. The purchase price is comprised of $7.5 million in cash at closing and contingent consideration of up to an additional $1.0 million based on achievement of specified sales levels through January 31, 2012. The transaction is expected to be slightly accretive to Cantel's earnings per share in the first full fiscal year.