Ecolab (NYSE:ECL) said today that it has agreed to buy O.R. Solutions, a privately-held developer of surgical fluid warming and cooling systems, for $260 million in cash.
Surgical fluid warming systems are used to prevent infections while cooling systems are used to maintain tissue health during transplants and cardiac surgeries.
O.R. Solution’s annual sales are about $55 million, with more than 85% of it derived from sales of custom fit sterile drapes.
Douglas M. Baker, Jr., Ecolab's CEO, said, "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 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.
Ecolab is a provider of cleaning and sanitizing products and services in more than 160 countries. In 2009, the company reported profits of $417 million on revenues of almost $6 billion.
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