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Cantel Medical to buy Italian dental surgical consumables company

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Cantel Medical to buy Italian dental surgical consumables company

Cantel Medical Corp. is acquiring Omnia SpA, an Italy-based dental surgical consumables company, for $31.9 million in cash and stock.

Omnia manufactures and sells custom procedure kits, sutures and irrigation line systems, with focus on procedure room set-up and cross-contamination prevention. The company booked revenues amounting to $18.9 million for the year ended July 31.

Under the deal, Cantel Medical will pay $26.1 million up front, along with earnout payments worth $5.8 million, based on the achievement of certain performance-based targets.

Completion of the transaction is expected to occur in the beginning of February 2019, subject to customary closing conditions.

The company expects the deal to be accretive to its non-GAAP EPS in the fiscal year ending July 31, 2019, and beyond. The deal is also projected to be accretive to Cantel Medical's GAAP EPS in the fiscal year ending July 31, 2020, and beyond.

Little Falls, N.J.-based Cantel Medical offers infection prevention products and services for endoscopy, water purification and filtration, and healthcare disposables.