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Stericycle, Inc. Announces Second Major Acquisition in Past Five Months

Acquisition of New York Based Environmental Control, When Added to Waste

Management Acquisition, Will Increase Revenues by More than 70 Percent

DEERFIELD, Ill., May 12 /PRNewswire/ -- Stericycle, Inc. (Nasdaq: SRCL), announced today its acquisition of Environmental Control Co. Inc. (ECCO), a leading provider of medical waste services to the New York City metropolitan area. Stericycle management stated that this acquisition is an important step in executing the Company's strategy of aggressively participating in the consolidation and rapid penetration of higher-margin alternate site customers in the medical waste services industry.

"We expect the ECCO acquisition to increase our annual revenues by more than $6.5 million which, combined with the recently-completed Waste Management acquisition, would increase our revenue run rate by more than 70 percent," said Mark Miller, president and chief executive officer. "From a strategic perspective, this acquisition accelerates our growth potential by establishing an excellent position in the significant New York metropolitan market. ECCO has a capable and highly-experienced management team that has built an impressive service network of over 7,000 customers, predominantly alternate site generators."

As consideration for the purchase of ECCO, Stericycle agreed to pay approximately $4.2 million in cash, issue 125,000 shares of stock, assumed certain debt on trucking equipment and delivered a ten-year note for the balance of the purchase price. This is the sixth acquisition the Company has made since January of 1996 and the second acquisition since the Company's initial public offering in August 1996, in which it raised more than $27 million.

In December, 1996, Stericycle reported the acquisition of the major portion of Waste Management's North American medical waste assets. These assets are expected to increase Stericycle's annual revenues by about $12 million. On March 19, 1997, Stericycle reported revenues of $24.5 million for its fiscal year ended December 31, 1996.

Stericycle is the second-largest provider of regulated medical waste management services in the U.S. The Company's proprietary Electro-Thermal- Deactivation process destroys human pathogens without producing harmful airborne emissions, and permits resource recovery. The Company operates on a multi-regional basis. Its services include medical waste collection, transportation, treatment, disposal, reduction and resource recovery.

From time to time, the Company may publish forward-looking statements relating to such matters as anticipated future revenues and financial performance, business prospects, acquisition activities and similar matters. The Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements. The risks and uncertainties that may affect operations, performance, development and results of the Company's business include the following: difficulties and delays with respect to the completion and integration of acquisitions; delays and diversion of attention related to compliance with permitting and regulatory authorities; difficulties and delays with respect to marketing and sales activities; and general uncertainties accompanying the expansion into new markets.

SOURCE Stericycle, Inc.
 -0- 05/12/97


/NOTE TO EDITORS: For more information on Stericycle, Inc. via facsimile at no additional cost, simply dial 1-800-PRO-INFO and enter the company code SRCL./

/CONTACT: Mark Miller, CEO, General Information, of Stericycle, Inc., 847-374-5133; or Bill Murphy or Jeff Wilhoit, General Information, or Kathy Brunson, Analyst Inquiries, or Bess Gallanis, Media Inquiries, of The Financial Relations Board, 312-266-7800/

(SRCL)

CO: Stericycle, Inc.; Environmental Control Co. Inc. ST: Illinois IN: ENV SU: TNM

MS-BG -- CLM013 -- 1025 05/12/97 09:09 EDT http://www.prnewswire.com
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Publication:PR Newswire
Date:May 12, 1997
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