Cantel Medical to buy BHT Group for $60m

Cantel Medical (NYSE:CMN) said today it inked a definitive agreement to purchase German endoscope reprocessor BHT Hygienetechnik Holding for $60.8 million.

BHT Group has approximately 100 employees and provides automated endoscope reprocessing alongside related equipment, services and flexible endoscope repairs, Little Falls N.J.-based Cantel Medical said. Over the past year, BHT Group reported revenues of $24.5 million.

“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. 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,” prez & CEO Jorgen Hansen said in a prepared statement.

Cantel Medical said it expects the acquisition to be accretive ot non-GAAP earnings per share during its current fiscal year, and accretive to GAAP EPS in its fiscal year ending July 30, 2019, and beyond. The acquisition is expected to close at the end of August.

“BHT Group is an excellent strategic fit with our endoscopy division and aligns well with the growth aspirations outlined in our strategic plan 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,” endoscopy division prez Dave Hemink said in a press release.

In April, Cantel Medical said it closed its buy of endoscopy business assets from Australian distributor CR Kennedy.

The assets picked up by Little Falls, N.J.-based Cantel include its Mediators-branded automated endoscope reprocessors, chemistries and procedure room products. The sale also includes a full sales and service organization from CR Kennedy, the company said.

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