OR WAIT 15 SECS
Ecolab Inc. announces it has agreed to purchase the assets of O.R. Solutions, Inc., a privately held company based in Chantilly, Va. O.R. Solutions is a developer and marketer of surgical fluid warming and cooling systems in the United States. O.R. Solutions' systems are designed to enhance patient safety and improve surgical outcomes by maintaining the proper temperature of fluids used during surgery; each procedure requires custom fit sterile draping. Numerous studies have shown that using warm fluids during surgery is effective in helping prevent infections. Cooling systems are used to maintain tissue health during cardiac procedures and transplants.
Annual sales of the business to be acquired are approximately $55 million, with more than 85 percentÂ of O.R. Solutions' sales from custom fit sterile drapes. The purchase price is approximately $260 million for O.R. Solutions, and the acquisition is expected to be accretive to Ecolab's 2011 earnings. Completion of the transaction is expected to occur upon receipt of regulatory clearance and satisfaction of other customary closing conditions. No other details were announced.
Douglas M. Baker, Jr., Ecolab's chairman, president and CEO, says, "We believe this will be a terrific complement to our global Healthcare business. O.R. Solutions has enjoyed strong growth and has significant upside potential in both the U.S. and international markets. The acquisition will strengthen our position in infection prevention, build on our surgical barrier platform, and expand our solutions for the operating room. It will also bring a strong sales and service team, adding depth and expertise to our business.
"We believe this transaction will bring exciting growth potential for our combined operations and additional opportunities for both companies' employees. We look forward to completing the transaction and continuing to expand our business and portfolio of infection prevention solutions."Â