Date: March 7, 2007
Source: MedServe, Inc.
MedServe Acquires Three Companies in Latest Round of Medical Waste Industry Consolidation
MedServe, Inc., through its operating subsidiaries Enserv and Envirosolve, has completed another round of recent acquisitions – in Tennessee, Oklahoma and Michigan -- as part of its continued consolidation of local and regional operators in the medical waste industry nationwide. Purchase prices for all three acquisitions were undisclosed. With these transactions, MedServe expands its presence for the first time into the attractive Great Lakes region and further into Southeastern markets.
MedServe's management has now completed 13 acquisitions in less than two years in its quest to become the second largest company in the medical waste management sector. These acquisitions, combined with strong organic growth, have more than tripled MedServe's customer base and quadrupled revenues since the company's founding in 2005. The company is led by Roger Ramsey, former founder and chief executive officer of Allied Waste Industries and co-founder of Browning Ferris Industries (BFI) and Mike Fields, former president of BFI Medical Waste.
"The medical waste industry is very fragmented with the exception of one large, single national player. There's a compelling opportunity for a strong second player to emerge through consolidation. MedServe has the capital, the management experience and the strategic intent to build a national footprint in the medical waste business," said MedServe Chairman and CEO Roger Ramsey.
In the last 90 days, the company purchased Medical Waste, Inc., a leading provider of medical waste collection and transportation services for more than 20 years to hospitals, physicians, veterinary clinics and medical research laboratories throughout Tennessee, northern Georgia and western North Carolina. The acquisition, effective November 1, 2006, included a high-pressure steam commercial medical waste autoclave disposal facility in Cleveland, Tennessee, where waste is first treated and subsequently shredded. This acquisition by Enserv, the wholly owned medical waste operating subsidiary of MedServe, opens up new market opportunities for the company throughout the south-central and southeastern U.S.
Agility Bioservices, L.L.C., based in Grand Rapids, Michigan, has provided medical waste collection and transportation services to customers throughout Michigan and Indiana for more than three years. This acquisition by Enserv, also effective November 1, 2006, offers opportunities to expand into other key northern Great Lakes markets such as Detroit, Cleveland and Chicago. The acquisition also adds a state-of-the-art treatment facility with two autoclaves that serves a number of independent medical waste haulers throughout the region.
Small Quantity Generator Services, Inc. (SQG), based in Oklahoma City, Oklahoma, specializes in health care and related waste transportation and disposal services in Oklahoma, northern Texas and Kansas. The acquisition was completed January 30, 2007.
"We're pleased to welcome these three fine companies and their employees to the MedServe family," said MedServe president Mike Fields. "In a highly regulated industry, each of these companies has earned an excellent reputation for quality performance and safe operations in their respective markets. We look forward to providing the same highly dependable services to our newest customers in Michigan, Indiana, Tennessee, Georgia, North Carolina, Oklahoma, Texas and Kansas."
Fields added that the company will continue to seek further expansion opportunities in these markets, as well as explore the addition of new markets. Current letters of intent should allow MedServe to expand into other new geographic regions in the very near future.
MedServe Inc.'s operating subsidiaries – Enserv, Med Shred, and Envirosolve -- are headquartered in Houston, Texas. We serve public and private hospitals, patient clinics, physicians, veterinary clinics and laboratories across the Southeast, Southwest, West and Midwest regions, providing turnkey medical waste management solutions. These turnkey services include high quality mobile medical waste treatment services, waste liability management, waste minimization programs, sharps tracking and retrieval, and medical waste collection, transport, treatment and disposal. MedServe Inc. and its operations and subsidiaries are in no way affiliated with the Harris County Medical Society. For additional information about our waste management solutions, please visit www.medserve.com.