Dec 8 2009
Stericycle, Inc. (NASDAQ:SRCL), announced today that it had
completed its pending acquisition of MedServe, Inc., which is now a
wholly-owned subsidiary of Stericycle’s. The transaction closed on
Friday, December 4, following our receipt of clearance under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”) on Monday,
November 30, 2009.
MedServe’s annual revenues, as adjusted for the required divestiture of
certain large quantity generator MedServe assets in Kansas, Missouri,
Nebraska and Oklahoma as a condition of HSR clearance, are approximately
$36.0 million. As we have previously disclosed, we anticipate that the
MedServe acquisition will be accretive to earnings over the 12 months
following closing by approximately $0.02 per share prior to any
acquisition transition and transaction expenses, with the accretion
largely occurring in the second half of the 12 month period.