Transaction will expand the firm's sterility assurance product offering
Cantel Medical is to purchase the North American Science Associates' (NAMSA) Sterility Assurance Monitoring Products division for US$13.5m in cash.
NAMSA's sterility assurance products will be integrated into Cantel Medical's Crosstex portfolio and reported in the firm's Healthcare Disposables segment.
The Sterility Assurance Monitoring Products division manufactures biological and chemical indicators which are used to monitor the effectiveness of sterilisation processes. These indicators are used primarily in the industrial segment serving medical device, life science and other manufacturers, representing a new end-market for Cantel's Healthcare Disposables segment.
For the year ending 31 December 2015 NAMSA's Sterility Assurance Monitoring Products division had adjusted sales of $5.7m.
Gary Steinberg, President and CEO of Crosstex, which manufactures infection prevention and compliance products for the global healthcare industry and is headquartered in Hauppauge, New York, said: 'This acquisition not only allows us to expand our sterility assurance product offering, but also broadens our presence into the important industrial market segment.'
Cantel Medical expects the deal to close in the third quarter of fiscal year 2016.