Printer Friendly

TDX CORPORATION ACQUIRES SAFE WAY DISPOSAL SYSTEMS

 ANDOVER, Mass., March 30 /PRNewswire/ -- TDX Corporation (NASDAQ: TDXC) announced today that it has acquired a controlling equity position in Safe Way Disposal Systems, Inc., of Middletown, Conn., for $5.0 million.
 The Safe Way acquisition completes the targeted expansion of TDX, bringing the number of operating companies controlled by the company to four. TDX, formerly named Health Management International, Inc., started with Xenejenex, a producer of consumer health information programs, and added two other companies in the past 15 months: Diet Workshop, a provider of weight control services and products in the Boston area, and Transactional Media, Inc. (TMI), a producer of informercials and related television programming.
 Noel Group, Inc. (NASDAQ: NOEL), which owns control of TDX, provided the majority of the financing for the transactions through additional equity investment and lines of credit.
 Safe Way, headed by one of its founders, Martin Smith, provides comprehensive medical waste disposal services to health care provides in Connecticut, New York, Rhode Island and Massachusetts, serving over 2,600 accounts. Safe Way's principal waste treatment facility is located in Middletown, where it operates a 37-ton per day waste treatment plant.
 Safe Way, in business since 1986, is the exclusive New England and New York state distributor of the Asea Brown Boveri (ABB) Sanitec Microwave Disinfection System, featuring an innovative on-site hospital waste disposal service. Its fully-permitted rotary kiln incinerators and the Sanitec systems are state-of-the-art in medical waste treatment, meeting or exceeding all current regulatory requirements.
 Simultaneous with the TDX-Safe Way transaction, Safe Way acquired a small New England medical waster hauler. Safe Way had revenues in 1992 of approximately $9.0 million including the waster hauler's revenues on a pro forma basis. The company plans to expand its treatment operations to non-medical waste streams, including certain non-hazardous industrial (oil and oil-based) material.
 -0- 3/30/93
 /CONTACT: Donald R. Dwight of TDX Corporation, 203-661-8480/
 (TDXC)


CO: TDX Corporation; Safe Way Disposal Systems, Inc. ST: Massachusetts, Connecticut IN: ENV SU: TNM

SM-AH -- NY073 -- 1167 03/30/93 15:23 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 30, 1993
Words:338
Previous Article:'STRAIGHT TALK WITH BILL BRADLEY' TO FOCUS ON URBAN AGENDA
Next Article:NALCO PREPAYS DEBT
Topics:


Related Articles
HEALTH MANAGEMENT INTERNATIONAL COMPLETES REORGANIZATION, CHANGES NAME
STERIS CORPORATION ANNOUNCES BIOHAZARDOUS WASTE DECONTAMINATION MARKET ENTRY THROUGH BUSINESS DEVELOPMENT AGREEMENT WITH ECOMED
TDX CORP. REPORTS SECOND QUARTER AND SIX-MONTH REVENUES AND NET LOSSES
TDX CORP. COMPLETES RESTRUCTURING
TDX CORP. SUBSIDIARY, SAFE WAY, SIGNS AGREEMENT TO SELL ASSETS
TDX CORP. SUBSIDIARY, SAFE WAY, SIGNS AGREEMENT TO SELL ASSETS
TDX CORP. SUBSIDIARY, SAFE WAY, COMPLETES SALE OF ASSETS
BIOMEDICAL DISPOSAL, INC. FORMED TO DEVELOP NEW TECHNOLOGY FOR MEDICAL WASTE DISPOSAL
Harsco acquires medical waste specialist.
FAA Baselines Sensis Technology to Digitize Surveillance Data For Air Traffic Control; TDX-2000 Designated Solution for Digitizing Legacy Analog...

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters