Date: May 6, 2010
Source: Waste Management, Inc.
Waste Management Acquires Certain Assets of MedServe From Stericycle
WM Healthcare Solutions, Inc., a subsidiary of Waste Management, Inc. (NYSE: WM), today announced that it has purchased from Stericycle, Inc. (Nasdaq: SRCL) certain assets of MedServe, Inc. MedServe provided regulated medical waste management solutions, including on-site sharps management and on-site medical waste treatment, and waste management solutions for hazardous materials including chemical, pharmaceutical and radioactive waste until its acquisition by Stericycle in December 2009.
WM Healthcare Solutions purchased MedServe's Newton, KS, autoclave treatment facility and its transfer stations in Kansas City, KS; Oklahoma City, OK; Omaha, NE; and Booneville, MO. The assets were purchased from Stericycle following a consent decree with the U.S. Department of Justice that resolved its antitrust complaint against Stericycle's acquisition of MedServe, Inc. and that enabled the transaction to close.
"The purchase of MedServe's treatment facility and transfer stations will allow us to provide an increased level of service options for our customers in these states," said David Aardsma, senior vice president of sales and marketing for Waste Management. Aardsma added that the new acquisition will allow businesses a wide-ranging selection of waste options that will include disposal of trace chemotherapy, pathological, hazardous, medical, pharmaceutical and sharps waste, as well as the recycling of papers, organics, plastics, glass, light bulbs, batteries and electronic waste.
"With the purchase of certain assets of MedServe in these four states, we bring Waste Management's vast waste and recycling infrastructure and industry expertise to these healthcare customers," Aardsma said. "Our goal is not only to service medical waste disposal needs, but also to help healthcare facilities significantly reduce waste and help manage the economic, operational, social and environmental impacts of those materials post consumption," he said.
About Waste Management and WM Healthcare Solutions
Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. The company's customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com or www.thinkgreen.com.
WM Healthcare Solutions, Inc. (WMHS) is a subsidiary of Waste Management, Inc. that provides a complete range of sustainable and cost-effective managed waste and environmental solutions specifically designed for the healthcare industry. WMHS aims to be the single source provider of operational and consulting services required to handle the healthcare industry's complex waste streams from compliance, safety, and risk assessment to in-house operational logistics, market assessment, and collection and processing for a variety of waste streams. To learn more information about WM Healthcare Solutions, visit www.healthcare.wm.com.
See also: www.healthcare.wm.com.