Financial News

Ecolab Closes $950 Million Sale of Global Surgical Solutions Business

Plans $500 million stock repurchase now that its deal with Medline is complete.

Ecolab Inc. closed the sale of its global surgical solutions business to Medline in a $950 million cash deal. The business unit sold drapes, under the Microtek brand name, donned by surgeons and patients and also used on operating room equipment.

Ecolab said it will continue to serve hospitals through its infection prevention (environmental hygiene programs to reduce hospital acquired infections) and instrument reprocessing businesses, which offers cleaning and sterilization solutions for instruments. These areas fits with Ecolab’s growth model as it “combines a technological anchor with proprietary consumables and service,” according to officials.

The proceeds from today’s transaction will enhance its ability to “invest in attractive growth opportunities and return capital to shareholders,” the I&I company noted.

As such, Ecolab also announced it intent to repurchase up to an additional $500 million of Ecolab stock during the second half of 2024.

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