Cantel Medical (NYSE:CMN) and North American Science Associates said they agreed to a $13.5 million cash deal for NAMSA’s sterility assurance business, which Cantel said it plans to fold into its Crosstex division.
The NAMSA operation, which posted sales of %5.7 million last year, makes biological and chemical indicators designed to monitor the effectiveness of sterilization procedures.
“This acquisition not only allows us to expand our sterility assurance product offering, but also broadens our presence into the important industrial market segment. We look forward to delivering to these customers a high-quality sterility assurance product offering they have come to expect from the NAMSA product line, and are excited to provide additional product solutions to these customers with Crosstex’s complete infection prevention and control product portfolio,” Crosstex president Gary Steinberg said in prepared remarks.
The deal calls for NAMSA to continue making the products until the middle of 2016, when they’re slated to be integrated into Crosstex’s manufacturing chain, Northwood, Ohio-based NAMSA said.
Little Falls, N.J.-based Cantel said it doesn’t expect the deal to add much to earnings until fiscal 2017. The deal is expected to close during the 1st quarter.