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    Breaking News

    Cantel Acquires Italian Dental Surgical Consumables Firm Omnia

    The buy expands Cantel Dental's presence in the European infection prevention market.

    Cantel Acquires Italian Dental Surgical Consumables Firm Omnia
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    PR Newswire11.13.18
    Cantel Medical Corp. announced that it has entered into a definitive agreement to purchase Omnia S.p.A., an Italian-based market leader in dental surgical consumables solutions.
     
    Omnia's business consists of a wide-ranging portfolio of sutures, irrigation tubing, and customized dental surgical procedure kits, with a focus on procedure room set-up and cross-contamination prevention. Its products are used across multiple dental surgical procedures, including maxillofacial surgery, periodontics and prosthodontics, and general practices.
     
    The total purchase price is $31.9 million in cash and stock consideration, consisting of $26.1 million in upfront payment and $5.8 million of consideration in the form of an earn-out based on the achievement of certain performance-based targets.1
     
    For the last twelve months period ending July 31, 2018, Omnia generated revenues of $18.9 million.2 Cantel anticipates the acquisition to be accretive to non-GAAP earnings per share in the fiscal year ending July 31, 2019 and beyond, and accretive to GAAP earnings per share in the fiscal year ending July 31, 2020 and beyond.
     
    "Expanding our leadership in international markets remains a key priority for Cantel. This transaction in particular represents a milestone as it enables us to significantly expand Cantel Dental's presence in the European infection prevention market," said Jorgen Hansen, president and CEO. "Combining Omnia's high-quality product portfolio and commercial infrastructure with Cantel's existing dental solutions in Europe will enable us to provide more comprehensive offerings to our customers. It also will create the scale and infrastructure needed to position us well for future growth of our Dental business globally."
     
    "Omnia's comprehensive product lines of high-quality, innovative infection prevention and surgical solutions will be a strong addition to our growing dental portfolio," said Gary Steinberg, President of Cantel's Dental division. "We believe Omnia's existing sales channels and focus on specialty dentistry will better equip us to service an additional segment of the dental market where maintaining aseptic procedures is critical."
     
    Subject to customary closing conditions, Cantel expects the transaction to close at the beginning of February 2019.
     
    References
    1 Assumes USD/EUR Fx rate of 1.13 as of 10/30/18. 
    2 Assumes average historical USD/EUR Fx rate of 1.19 for last twelve months period ending 7/31/18.
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