Sterigenics International and its Subsidiary Nordion Enter into Agreement to Acquire REVISS Services
Ontario (ots/PRNewswire)
Agreement Highlights
- Purchase agreement covers REVISS Services (UK) Ltd. and subsidiary REVISS Services Inc. (USA) - REVISS had ceased trading in cobalt-60 in April 2014 - REVISS Services will be integrated into the operations of Nordion (Canada) Inc. - Acquisition allows Nordion to broaden its capabilities in cobalt source recycling and servicing dry storage irradiators - REVISS's Milton UK facility will be reactivated and current staff will be retained - The transaction is expected to close in Q4 2016
Sterigenics International LLC and subsidiary Nordion are pleased to announce that they have entered into an agreement as part of REVISS's Solvent Members Voluntary Liquidation to purchase REVISS Services (UK) Limited and its US subsidiary REVISS Services Incorporated. The transaction is expected to close in Q4 2016, subject to the required approvals.
In April 2014, REVISS announced that it would cease trading in cobalt-60 due to withdrawal of supply by its Russian supplier, JSC Isotope, resulting in REVISS's Solvent Members Voluntary Liquidation process which commenced in August 2015. Despite REVISS's having stopped trading in cobalt-60, many REVISS cobalt sources remain at customer facilities globally.
"We are pleased to welcome the talented members of the REVISS team to join our Gamma Technologies business unit," said Michael Petras, CEO of Sterigenics. "This acquisition broadens our capabilities in cobalt source recycling, particularly for REVISS cobalt sources, allows us to service dry storage irradiators for the first time, and reinforces Sterigenics' commitment to serving the wider gamma processing industry."
"We look forward to working with the REVISS team and to capitalise on the Milton UK facility to give us the capability to better serve our customers, particularly those in Europe," said Scott McIntosh, President of Nordion.
"Securing REVISS UK's future, its capabilities and expertise for the benefit of the gamma sterilisation industry has been our key priority since April 2014," REVISS UK Managing Director, Ian Latham stated. "The REVISS team looks forward to continuing to provide secured care of REVISS legacy products, and to working with new colleagues at Nordion to provide innovative ongoing products and services to the industry in the years to come."
About Nordion (Canada) Inc.
Nordion is a leading provider of medical isotopes and gamma technologies used for the prevention, diagnosis and treatment of disease and infection. Nordion's products are used daily by pharmaceutical and biotechnology companies, medical-device manufacturers, hospitals, clinics and research laboratories. Nordion supplies products to approximately 500 customers across more than 40 countries around the globe, and is a standalone business within Sterigenics International LLC, the global leader in outsourced contract sterilization services, gamma technologies and medical isotopes. Learn more about Nordion at nordion.com (http://www.nordion.com/) and follow us on Twitter at @NordionInc (https://twitter.com/NordionInc).
About Sterigenics International LLC
Sterigenics International LLC, along with its affiliates, is a global leader in outsourced contract sterilization services, laboratory services, gamma technologies and medical isotopes, and the only vertically integrated sterilization company in the world. Operating out of 48 facilities in 13 countries across the Americas, Europe and Asia, Sterigenics provides contract sterilization and ionization services for the medical device, pharmaceutical, food safety, and high-performance materials industries. Through Nelson Labs, Sterigenics offers microbiological and analytical testing and consultancy to assist customers in developing and maintaining sterilization solutions in medical devices, tissue/implantable products, and pharmaceuticals and biologics fields. Its affiliate Nordion positions Sterigenics as the world's largest provider of Cobalt-60 used in the gamma sterilization process as well as medical isotopes used in the diagnosis and treatment of various diseases and cancers. Sterigenics International LLC and its affiliates serve more than 2,500 customers around the world and is owned by private equity firms Warburg Pincus and GTCR.
Nordion, James Anderson, +1-(613)-864-9053, James.Anderson@publicaffairsadvisors.com; Sterigenics, John Vita,+1-(847)-853-8283, John.Vita@jsvcom.com