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Cantel Medical Buying Siemens Sub

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Medical-products maker Cantel Medical (NYSE: CMN  ) announced Monday that its Mar Cor Purification subsidiary has purchased Siemens' (NASDAQOTH: SIEGY  ) hemodialysis water business, used in dialysis, for an undisclosed sum.

The business services 600 customers in the U.S. and Canada and generated about $9 million in revenue last year. Cantel is already a leader in the dialysis industry, providing "advanced heat-based disinfection" services to prevent and control infections.

Cantel says the purchase will further expand Mar Cor's "North American footprint" and will also be "slightly accretive" to earnings for the company in fiscal 2013. Shares of the company shed 0.6% of their value in Monday trading, closing at $29.03.

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Related Tickers

9/27/2016 4:02 PM
CMN $80.23 Down -0.05 -0.06%
Cantel Medical CAPS Rating: *****
SIEGY $116.94 Up +0.25 +0.21%
Siemens AG (ADR) CAPS Rating: ****