Cantel Medical (NYSE:CMD) said today that it closed its $31.9 million acquisition of Italian dental surgical consumable maker Omnia for an undisclosed amount.
Omnia owns a portfolio of sutures, irrigation tubing and customized dental surgical procedure kits, Little Falls, N.J.-based Cantel said. The newly acquired company’s products are intended for use across a number of dental surgical procedures.
Cantel Medical said that Omnia posted sales of $18.9 million for the 12 months ended July 31, 2018, and that it expects the acquisition to be accretive to its non-GAAP earnings per share in its 2019 fiscal year, and accretive to GAAP EPS beyond its 2020 fiscal year.
The purchase price includes $25.1 million in an upfront payment and $5.8 million in a milestone-based payout, according to the company’s initial announcement of the acquisition posted last November.
Cantel Medical said today in a press release that it closed the acquisition.
