Cantel Medical Corp. is acquiring an Italian dental surgical consumables solutions company, it announced Monday.
The Little Falls health care products firm said in a news release that it has entered into a definitive agreement to purchase Omnia SpA for $31.9 million in cash and stock. The deal includes a $26.1 million upfront payment and $5.8 million in performance incentives, Cantel said.
“Expanding our leadership in international markets remains a key priority for Cantel,” CEO and President Jorgen Hansen said in a prepared statement. “This transaction in particular represents a milestone, as it enables us to significantly expand Cantel Dental’s presence in the European infection prevention market.”
Omnia makes sutures, tubing and other items used in dental procedures. It had revenue of $18.9 million for the 12 months ended July 31.
Cantel said it expects the deal to close in February, pending customary approvals and conditions.