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Cantel Medical Acquires Byrne Medical, Inc., Substantially Increasing Its Presence in GI Endoscopy
Date:8/2/2011

nd single-use high-level disinfectants, along with the robust demand experienced for the Byrne Medical products, attest to this growing world-wide movement."

Krakauer continued, "I am particularly impressed with Byrne Medical's distinctive understanding of the issues faced by the frontline GI medical personnel and the ability to translate that into ingenious products that solve real problems.  Don Byrne has created an outstanding, customer-focused company with great products, excellent manufacturing capabilities, a very effective consultative sales force and an impressive management team."

Don Byrne, President of Byrne Medical commented, "With so many opportunities in our sights, we believe Cantel is the perfect partner to aid us in accelerating our growth plans.  There is an excellent cultural fit between our companies, and we share an uncompromising commitment to assist healthcare providers in mitigating infection control risks.  I am so proud of what we have accomplished, and I am very thankful to the entire Byrne Medical team.  We are all excited to take this business to the next level in our partnership with Cantel and Minntech."

To finance the transaction, Cantel Medical initiated a new, five-year $150.0 million credit facility ($100.0 million revolver and $50.0 million term loan) with its existing syndicate comprised of Bank of America, Wells Fargo and PNC Bank.  

In accounting for the transaction, both the $10 million of restricted stock-with-a-floor and the potential $10 million in additional contingent consideration will result in mark-to-market fluctuations in future reported earnings of Cantel Medical.  Any such significant movements will be highlighted in the announcement of those results.

The Company will hold a conference call to discuss the acquisition of Byrne Medical on Wednesday, August 3, 2011 at 11:00 AM Eastern time. To participate in the conference call dial (877) 407-8033 or (2
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SOURCE Cantel Medical Corp.
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