Ansell Limited (ANN.AX), a global leader in protection solutions, today announced the acquisition of Sandel Medical Industries, LLC, a recognized leader in the development of staff and patient safety disposable products in the US. The Company has turnover of ~US$10m p.a. Ansell will continue the Sandel business under the Ansell Sandel Medical Solutions LLC name.
The Sandel product range covers six key product categories (sharps safety, ergonomic safety, medication handling & specimen handling, safety kits and safety products/correct site markers for patients) and presents an excellent opportunity for Ansell to expand our range of differentiated products.
The Sandel solutions portfolio will allow Ansell to offer hospitals and ambulatory surgery centers cost-effective solutions to improve safety of the environment of patients and staff and to comply with the ever increasing regulatory and legislative safety requirements for patients and staff.
Magnus Nicolin, CEO of Ansell Limited commented, “The acquisition is an important step in Ansell's strategy to grow in both existing business segments, as well as to expand with integrated solutions in surgical safety.” He concluded, “We are very excited about the Sandel opportunity and look forward to working with their experienced management team, staff, and valued customers.”
The purchase price is US$13.5 million (A$ 12.8 million) and the Purchase Agreement includes sales and growth based earn-outs over the next five (5) years.
The acquisition is expected to be earnings per share neutral in F’12 and accretive from F’13 onwards.
About Sandel Founded in 2002, Sandel Medical Industries was created around 2 key principles: to seek out unresolved safety issues in the operating room: and to develop and manufacture practical “Problem-Solving” products that address staff and patient safety. Information on Sandel and its solutions can be found at www.sandelmedical.com.