Cantel Medical picks up healthcare software dev Aexis Medical for $25m

Cantel Medical (NYSE:CMD) said today it acquired Belgium-based healthcare software developer Aexis Medical in a deal worth $24.8 million. Through the deal, Little Falls, N.J.-based Cantel Medical will pay $21.1 million up front and $3.7 million in an earnout structure slated to pay out at two-years after the deal closes. Aexis Medical develops integrated information technology solutions designed to support management of instrument reprocessing workflows and data reporting in hospital environments, and employs approximately 60 employees including software developers, sales and other functions, Cantel said. “We’re excited that Aexis Medical is now part of Cantel and we welcome their employees to our team. The integration of Aexis Medical’s robust IT solutions will enable us to transform how we innovate and approach customers holistically to address their unmet infection prevention needs using healthcare data analytics. In addition, this acquisition also allows us to enter into a largely untapped global market for healthcare information analytics in infection prevention that will advance our business strategy and better position us for future sustainable growth,” Cantel prez & CEO Jorgen Hansen said in a prepared statement. Cantel Medical said that Aexis Medical reported sales of $4.2 million last year, and that it expects the acquisition to be modestly dilutive to GAAP earnings per share for its fiscal years 2018 and 2019 and neutral and slightly ...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Mergers & Acquisitions Software / IT Cantel Medical Corp. Source Type: news