Market Overview

Cantel Medical To Buy Hu-Friedy In $800M Deal


Cantel Medical Corp. (NYSE: CMD) will acquire privately-held Hu-Friedy Mfg. Co., a manufacturer of instruments for the dental industry,  in a $800 million deal.

Cantel is acquiring Hu-Friedy for $725 million in upfront cash and stock consideration, and up to $50 million in earnout payments payable in cash and stock conditional.

The transaction structure is anticipated to result in tax benefits to Cantel presently valued at more than $100 million, which would result in a net purchase price of $625 million for the upfront consideration and up to approximately $675 million in consideration including potential earnout payments.

"The combination of our two dental businesses provides a clear and immediate opportunity to become the leading provider of a 'Complete Circle of Protection' offering for instrument reprocessing workflow and infection prevention and compliance solutions in the dental industry," said George Fotiades, CEO of Cantel.

Cantel Medical shares are trading up 10.96% at $91.19 on Tuesday. The stock has a 52-week high of $99.68 and a 52-week low of $63.47.

Related Links:

Parker Hannifin To Acquire Exotic Metals Forming Company For $1.7B

Monotype To Be Acquired By HGGC For $19.85/Share In Cash

Posted-In: M&A News


Related Articles (CMD)

View Comments and Join the Discussion!

Penske Automotive Group Falls After Q2 Earnings Miss

Chegg Trades Higher On Q2 Earnings Beat