Cantel Medical Corp. (NYSE: CMD), announced today that it has entered into a definitive agreement to purchase Omnia S.p.A. ("Omnia"), 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 earnout 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 in the beginning of February 2019.
Cantel Medical is a leading global company dedicated to delivering innovative infection prevention products and services for patients, caregivers, and other healthcare providers which improve outcomes, enhance safety and help save lives. Our products include specialized medical device reprocessing systems for endoscopy and renal dialysis, advanced water purification equipment, sterilants, disinfectants and cleaners, sterility assurance monitoring products for hospitals and dental clinics, disposable infection control products primarily for dental and GI endoscopy markets, dialysate concentrates, hollow fiber membrane filtration and separation products. Additionally, we provide technical service for our products.
For further information, visit the Cantel website at www.cantelmedical.com.
About Omnia S.p.A.
Omnia is a leading manufacturer and distributor of custom procedure kits, sutures and irrigation line systems, with a special focus on the set-up of the operating room and the prevention of cross-contamination. Omnia has a solid history of developing, manufacturing and selling innovative sterile and disposable surgical products. These products are specifically designed to meet the demanding requirements of dental surgery.
For further information, visit the Omnia website at www.omniaspa.eu.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties, including, without limitation, the risks detailed in Cantel's filings and reports with the Securities and Exchange Commission. Such forward-looking statements are only predictions, and actual events or results may differ materially from those projected or anticipated.
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.
SOURCE Cantel Medical Corp.
November 12th, 2018--DentalEZ Integrated Solutions is proud to present True Caries Teeth from Columbia Dentoform, available November 19, 2018.
Products from Columbia Dentoform have been used to train dental students around the world for generations. In continuing that tradition, Columbia Dentoform is now offering a significant advancement in the teaching of caries identification and removal with True Caries Teeth. Unlike painted caries, the True Caries Teeth have a sticky, rubbery feel, providing a very tactical sensation and response for the student which allows for removal by a curette.
“These teaching aids are developed to feel virtually identical to what actual soft caries feels like because they are lifelike and scoop-able,” noted Carlos Martinez, International & Special Markets Sales Director for DentalEZ. “True Caries Teeth provide a realistic and superior learning scenario with cutting-edge technology for the advancement of dental health, thereby readying students to face the challenges that come with clinical work.”
For more information about True Caries Teeth, visit www.columbiadentoform.com or contact your local DentalEZ sales rep.
DentalEZ Integrated Solutions is committed to providing real solutions to everyday challenges in oral healthcare by uniquely combining innovation focused on simplification and efficiency in value-based products and outstanding customer service and support. DentalEZ manufactures a full line of products and well-known brands, including StarDental®, DentalEZ® Equipment, RAMVAC®, NevinLabs™, and Columbia Dentoform®. For more information, please visit www.dentalez.com.
CareCredit, a leading patient financing company, is expanding its educational library with the addition of a new audio program Building a Healthy Patient-Practice Partnership featuring Cathy Jameson, PhD, Founder of Jameson Management and Carrie Webber, Owner and Chief Communications Officer. This educational audio program is available free to dentists and teams who accept CareCredit.
In the new audio program, Dr. Cathy Jameson and Carrie Webber discuss how to build a practice based on true partnership, where patients are more engaged, more apt to accept recommended care, and more likely to refer friends and family. The audio program also features these two leading dental communicators role-playing key patient conversations and then breaking them down to provide the psychology behind the words.
“We believe practices that really understand and embrace the relationship factor with their patient family are going to have the greatest impact for the practice and for their patients,” explained Carrie Webber. “We want to be able to develop these levels of trust and understanding with our patient base so that they can get to a greater state of health. When we partner with our patients and help them be in a place where they feel safe and heard, we can ultimately help them find ways that they can say ‘yes’ to the treatment they want or need.”
CareCredit’s educational library features leading practice educators sharing insights on key practice management issues. “CareCredit continues to be committed to helping dentists and teams by connecting them to practical solutions from industry experts on topics such as overhead management, attracting new patients, and increasing referrals,” said Bete Johnson, Senior Vice President of Business Development, CareCredit. Practices that currently accept the CareCredit healthcare credit card can request a copy of this complimentary audio program by contacting their Practice Development Team at 800-859-9975, option 1, then 6. Practices that have yet to add CareCredit as a financing solution can call 800-300-3046, option 5, to request their complimentary copy.
About Dr. Cathy Jameson
Cathy Jameson, PhD, has been an international expert on practice management and marketing for more than 25 years. Leveraging her background in education, psychology, and management, she worked alongside her husband, John H. Jameson, DDS, in his practice to implement advanced communications and management techniques. Cathy is an acclaimed speaker, best-selling author, and highly-respected coach, consultant, and communicator.
About Carrie Webber
Carrie Webber has more than 15 years’ experience in marketing, public relations, and corporate communications. At Jameson Management, Carrie facilitates the development of relevant and timely products and services for clients – helping them attract more new patients, deliver an exceptional patient experience, and develop advanced verbal, non-verbal, and written communications skills.
For more than 30 years CareCredit, from Synchrony Financial (NYSE: SYF), has helped millions of people pay for needed and desired care and health expenses. CareCredit is a health, wellness and personal care credit card accepted through a national network of more than 200,000 healthcare provider locations and select health-focused retailers. For more information on CareCredit, call 800-300-3046 or visit www.carecredit.com. For more information about Synchrony Financial visit www.synchronyfinancial.com.
An accomplished leader in pharmaceutical distribution on an international level shares his commitment to the customer-first philosophy as a new member of the senior leadership team at Benco Dental. Tom Hart joined the nation’s largest privately-owned dental distributor earlier this year as Chief Operations Officer, and in his new role assumed responsibility for customer operations, which encompasses distribution operations and the company’s service dispatch and equipment coordination.
Prior to his time at Benco, Hart spent 14 years at McKesson Corporation, one of the world's largest medical supply distribution companies. There he held a variety of leadership roles, most recently as VP of Specialty Distribution Operations. During his tenure at McKesson, he channeled a passion for protecting the nation from a very difficult flu that claimed several lives and worked with the Center for Disease Control to deliver two major programs: CDC Vaccines for Children and the H1N1 nationwide vaccines distribution. Hart and his wife Rhonda have relocated their family, including two of their six children, from Memphis to Northeastern Pennsylvania.
From day one, Hart has been reaffirming the Benco Dental customer-focus philosophy among the company’s distribution team across the U.S. and thinking beyond the box. He’s been gaining fresh perspectives from dental practice owners during co-travels in the field, connecting with the people behind the packages that Benco delivers and in the process, achieving the shared goal of an improved patient experience.
Within his first six months at Benco, Hart championed an Idea Tank contest in the spirit of ABC’s Shark Tank, that aims to inspire associates to share their visions for new processes, business solutions and customer experience enhancements. This same spirit of fun and friendly-competition fueled a home office fundraiser earlier this year to benefit a Christmas in July food drive hosted by the United Way of Wyoming Valley. Benco’s inaugural Pie-the-Manager contest garnered sweet results: $1095 raised in three days by Benco’s Customer Operations team.
For more information, visit benco.com or call 1.800.GO.BENCO.
Benco Chief Operations Officer Tom Hart inspires a spirit of fun and friendly competition among his team, in the name of community support. During a Pie-the-Manager contest at the home office this summer, Hart’s direct reports Tony Smigelski, Director of Inventory Control and Returns (shown) and Lisa Fuller, Director Contact Center at Benco, demonstrated good sportsmanship to benefit the United Way of Wyoming Valley’s Christmas in July food drive. Michelle Lees (shown) won pie-throwing rights in a raffle to raise funds for the cause.
About Benco Dental
Benco Dental, headquartered in Northeastern Pennsylvania, is the largest privately-owned dental distributor in the United States, offering a full array of supplies, equipment and services to dentists across the nation. Founded in 1930 by Benjamin Cohen, the company has remained family-owned and focused on its unique mission to “deliver success, smile after smile.” Within the past 88 years, the company has grown from a single downtown location to a national network that includes five distribution centers, and three design showrooms. Those design showrooms, one at the company’s Pa. headquarters, one in Southern California, and one in Texas, feature North America’s largest selection of dental equipment and technology, as well as a hands-on dental design experience, to assist dentists in the planning and construction of a new office.
Benco, which has been named one of Fortune Best Workplaces in Health Care and Biopharma for the past three years, one of the NAFE Top Companies for Executive Women for the second consecutive year, and Pennsylvania’s Best Places to Work® for 12 of the past 14 years, is proud to feature a highly skilled team of more than 400 professionally trained sales representatives and over 300 factory-trained service technicians. For more information, visit benco.com or call 1.800.GO.BENCO.
Cantel Medical Corp. (NYSE: CMD), a leading global company dedicated to delivering innovative infection prevention products, services, and solutions, announced today that it has broken ground on a multimillion dollar expansion effort at its Rush, New York facility to provide employees with more space and capacity to support the significant growth of the Company.
The newly expanded facility, located at 6789 West Henrietta Rd. in Rush, NY, will have the capacity for approximately 350 employees, and the Company anticipates this expansion will create a significant number of new jobs for the community.
“Our team has doubled in size over the past few years as we have experienced significant growth in our Dental and Alternate Care Division,” stated Gary Steinberg, President, Dental division. “The expansion of our facility will allow us to keep pace with our growth while meeting the continued needs of our business. This milestone further demonstrates our commitment to our team while driving operational efficiencies to better serve our customers around the world.”
“We are excited to begin construction to expand our facility, and want to express our deep gratitude to the city and county officials who supported our efforts and partnered with us to make the vision for this project a reality,” said Scott Thome, Senior Vice President, Operations for Cantel. “We look forward to expanding our facility and believe that this investment will provide tremendous value to the community through the creation of jobs, helping fuel additional economic development in Rush and Henrietta.”
Cantel purchased land in Rush earlier this year and now plans to start construction of a 100,000-square-foot addition to its existing manufacturing and distribution center. Once the expansion is complete, the total building is expected to be 137,000 square feet. Cantel anticipates the facility will be available for use in fall 2019.
Cantel is a leading global company dedicated to delivering innovative infection prevention and control products and services for patients, caregivers, and other healthcare providers which improve outcomes, enhance safety and help save lives. Our products include specialized medical device reprocessing systems for endoscopy and renal dialysis, advanced water purification equipment, sterilants, disinfectants and cleaners, sterility assurance monitoring products for hospitals and dental clinics, disposable infection control products primarily for dental and GI endoscopy markets, dialysate concentrates, hollow fiber membrane filtration and separation products. Additionally, we provide technical service for our products.
For further information, visit the Cantel website at www.cantelmedical.com
The Thomas P. Hinman Dental Meeting -- the nation’s leading dental meeting and comprehensive source of continuing education in dentistry – has announced its 2019 dates. The 107th annual meeting will take place March 21-23, 2019 at the Georgia World Congress Center (GWCC) in Atlanta, Georgia. In addition, Pro Football Hall of Fame quarterback and oral cancer survivor, Jim Kelly, will be the featured Keynote Speaker on Thursday, March 21 at 5:30 p.m.
“We are excited about this year’s program and theme, which is The Beat Goes On: Dentistry & Your Systemic Health. The beat represents the heartbeat of a thriving organization (Hinman) that is more than 800 strong -- all contributing to offer the latest clinical continuing education in a fun, exciting atmosphere,” said Dr. Jonathan Dubin, General Chair for Hinman 2019. “The heartbeat is also a symbol of systemic health that includes oral health care, which affects the system as a whole and vice versa. A number of our courses will address our patients’ systemic health and how oral care can improve outcomes.”
Over three days, Hinman will feature 313 courses, including 95 participation and interactive courses that cover a wide array of knowledge that dentists and dental professionals can apply immediately in their dental practices and careers. The meeting will feature 94 speakers – 41 new to Hinman – who will present the latest developments in the dental profession.
“We are also thrilled to feature former Buffalo Bills quarterback Jim Kelly as our Keynote Speaker this year. He not only holds every major Bills passing record, has thrown more than 35,000 passing yards and threw 237 touchdowns, he is an oral cancer survivor and will share his inspirational story at Hinman,” added Dr. Dubin.
Jim Kelly is a Pro Football Hall of Fame quarterback who has made four Super Bowl appearances and guided the Buffalo Bills to four consecutive AFC Championships from 1990 to 1993 and six AFC East Championships between 1988 and 1995. He and Bills wide receiver, Andre Reed, are the third most successful passing duo in NFL history with 65 touchdown connections.
Following Jim’s professional football career, he has been a popular figure in the world of sports broadcasting. He joined ESPN’s NFL Countdown pregame show in May 1998 and served as an NFL game analyst for NBC Sports during the 1997-1998 season. Bills’ Sneak Preview with Jim Kelly has aired in Buffalo and Rochester on the NBC affiliates since 1987, and similarly, the Jim Kelly Radio Show has aired each season in the area since 1987. After retirement from professional football, he also founded a charitable organization called “Hunter’s Hope” that is named after his son and helps children like his son who are born with infantile Krabbe’s disease.
In addition to a comprehensive continuing education program and the Keynote Session, Hinman 2019 will feature nearly 400 companies -- located in the Building A Exhibit Hall. Exhibitors will showcase new technology, equipment, products and services for the entire dental staff. The Exhibit Hall will be open on Thursday, March 21, 9:30 a.m. – 5 p.m.; Friday, March 22, 9:30 a.m. – 6 p.m.; and Saturday, March 23, 9:30 a.m. – 3 p.m. Registration for Hinman 2019 will open on December 4, 2018. Please visit www.hinman.org for more information.
The Hinman Tradition
The Hinman Dental Meeting is designed with a commitment to quality and professionalism and a high regard for the value of continuing education. The meeting is sponsored by the Hinman Dental Society, a non-profit organization, and all excess revenue is invested and gifted in the form of individual scholarships to dental, hygiene, assisting and lab tech students and contributions to institutions that foster dental education. For additional information about the Thomas P. Hinman Dental Meeting, visit www.hinman.org or contact Ms. Sylvia Ratchford, Executive Director, at (404) 231-1663.
Pacific Dental Services® (PDS®), a dental support organization (DSO) that provides business and administrative services for dental offices, has announced it will launch Epic, the most widely-used comprehensive health records system. All organizations using Epic can easily exchange patient data for improved patient care.
PDS-supported dentists and specialists will have the ability to coordinate care with other clinicians who serve their patients and their families, closing care gaps and reducing duplication. As the leader in interoperability, Epic will enable PDS to easily exchange data for improved continuity of care across the country.
“Oral healthcare is a critical component of overall health and this investment will enable PDS-supported clinicians and their patients to more fully participate in the promise of a seamless, comprehensive healthcare system focused on whole body health,” said Stephen E. Thorne, IV, Founder and Chief Executive Officer at PDS.
Epic is used by a majority of U.S. News and World Report’s top-ranked hospitals and medical schools, which are working collaboratively every day to improve patient care, innovate healthcare delivery and achieve financial health.
“Poor oral health has been linked to cardiovascular disease, pregnancy and birth defects, and diabetes. Through the use of Care Everywhere, dentists across the country will have real-time access to important clinical information,” said Alan Hutchison, VP of Population Health at Epic. “As the first DSO to join Epic’s One Virtual System Worldwide, Pacific Dental Services is uniquely positioned to improve oral systemic health for the populations they serve.”
“This is a very exciting collaboration with what we believe will be the best dental practice management system in the industry, bringing closer the complete longitudinal patient record and highlighting more clearly than ever the Mouth-Body Connection®,” said David Baker, SVP, Chief Information Officer at PDS.
Epic will also provide benefits to patients and their caregivers by allowing them to chronicle their healthcare journey using the MyChart patient portal. MyChart gives patients, and their designated caregivers, secure digital access to their health information, enabling them to communicate with providers, schedule appointments, and pay bills online.
PDS continuously raises the bar in the support of owner dentists to create a culture of Clinicians Leading Clinicians in Clinical Excellence®. PDS, which has landed on the Inc. 5000 an impressive 13 times, demonstrates its commitment to competitive growth in the oral healthcare industry. Implementation of the Epic system is expected to be completed in 2020.
About Pacific Dental Services®
Founded in 1994, Pacific Dental Services (PDS) is one of the country’s leading dental support organizations, providing supported autonomy that enables dentists to concentrate on clinical excellence and the highest levels of cost-effective comprehensive patient care. PDS originated the Private Practice+® model to enable dentists to focus on their passion: serving patients. PDS also pioneered the concept of Modern Dentistry so that dentists are equipped to combine advances in the latest technology with the best operational practices and procedures, highly skilled support staff and a commitment to ongoing training and education. PDS continues to grow, with over 650 supported dental offices across the United States and plans to expand into several new markets. PDS-supported dentists aim to be the provider of choice in all the markets they serve and to develop Patients for Life™.
For more information, visit us at http://www.pacificdentalservices.com
Sterngold has announced the addition of Barbara Schreiner to the Sterngold Dental team. Barbara has been hired to fill the roll of Key Accounts Manager to support their full product line, including the MOR®Mini Implant System and the TRU®and PUR® conventional implant systems.
Barbara brings with her a strong background supporting key accounts, including the management of corporate relationships with several large dental service organizations. Barbara most recently held the position of National Strategic Accounts Manager at Kettenbach Dental USA.
Larry Clark, Director of Clinical Affairs and Marketing at Pulpdent Corporation, will present a Free CE Webinar on December 13 at 9:00 AM EST on Bioactive and Bio-mimicking Restorations. Register here.
About PULPDENT® Corporation
PULPDENT® Corporation is a family-owned dental research, manufacturing company and leader in bioactive dental materials. ACTIVA BioACTIVE™, developed by PULPDENT, is the first esthetic bioactive restorative material. ACTIVA behaves much like natural teeth and stimulates the formation of apatite (the building blocks of teeth), chemically bonds to teeth and helps protect against decay. For over 70 years, Pulpdent has been committed to product innovation, clinical education and patient-centered care in the fields of restoratives, oral hygiene, endodontics, temporization, periodontics, orthodontics, and general dentistry. To stay updated on bioactivity and learn about the Heroic Dentistry Series, which demonstrates ACTIVA's unprecedented capabilities, visit the Pulpdent blog.
Young Innovations, a leading global supplier of dental products, today announced the acquisition of Astek Innovations, Ltd. (“Astek”). Based near Manchester, UK, Astek is a leading supplier of innovative dental products, including Pro-Matrix®, Pro-Tip® and inSafe branded products.
“Astek represents an exciting addition to our growing global portfolio of premium branded products,” said Dave Sproat, CEO of Young Innovations. “Astek’s well-known track record of delivering innovative clinical products aligns completely with our overall approach and strategic partnerships with our customers.”
“The acquisition of Astek is the latest chapter in our proven track record of partnering with business owners around the world,” added Andrew Jones, Vice President of Corporate Development at Young Innovations. “Completing twelve acquisitions in four years is a result of focused execution of our inorganic growth strategy in our core categories.”
“Astek's high quality, unique and differentiated products are complementary to our Microbrush® applicators, DryTips® dry angles and our YoungTM and American Eagle® preventive products,” said Dan Garrick, VP of Global Business Development at Young Innovations. “These products enhance our ability to deliver clinical value to dental professionals in the UK, Europe and elsewhere through our distribution partners.”
"Having built Astek into the UK’s premier producer of dental products over the last 30 years, Antony and I are proud to see it join the Young Innovations family”, said Dr. Alan Segal, CEO of Astek. “I am confident that Young is the best steward for Astek’s continued success, and for the success of our customers and employees."
Antony Segal will continue as Director of Astek and operations will continue in Manchester at Astek House. There will be no immediate changes to ordering and service procedures for customers or vendors.
Young Innovations, Inc. is a portfolio company of The Jordan Company.
About Young Innovations, Inc.
Young Innovations (www.younginnovations.com) is a leading global provider of supplies and equipment used by dentists, hygienists, dental assistants and consumers. Our portfolio of brands includes products that hold leadership positions in the preventive, restorative, orthodontic and endodontic segments. With its mission of Creating Smiles, Creating Possibilities, Young focuses on delivering innovative, high-quality products and solutions to clinicians and their patients. We seek out opportunities to enhance our portfolio of brands and products through organic growth and acquisitions.
About The Jordan Company
TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm with original capital commitments in excess of $8 billion and a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, NY, TJC also has an office in Chicago, IL.