Date: July 23, 2010
Source: WM Healthcare Solutions, Inc.
Waste Management Acquires Medical Waste Processing Facility and Business in Florida
WM Healthcare Solutions, Inc., a subsidiary of Waste Management, Inc. (NYSE: WM), today announced that it has acquired a medical waste processing facility and collection assets based in Dover, Fla., from Bio-Spec, a provider of medical waste collection and treatment services. Terms of the deal were not disclosed.
WM Healthcare Solutions purchased an 8,000 square-foot chemical treatment facility in Edgewater and four transfer stations in Dover, St. Petersburg, Orlando and Palm Beach. "This acquisition enables us to service small and large healthcare customers in central Florida, and fits into Waste Management's strategy to manage solid waste, medical, recycling and pharmaceutical waste for the healthcare industry," said Vernon Wells, general manager of WM Healthcare Solutions. The treatment facility today serves approximately 2,800 licensed healthcare facility customers, employs four people. The company plans to expand the business in the state and hire an additional 30 people.
"Our acquisition of Bio-Spec's medical waste facility and transfer stations brings us closer to our goal of expanding our medical waste business," Wells said. "We are investing in these facilities and market so we can offer disposal options, consulting and cost savings for hospitals, clinics, laboratories, doctors' offices and a variety of other healthcare businesses in Florida. WM Healthcare Solution has a unique integrated solutions approach by providing not only safe medical waste treatment and disposal services, but also solid waste, recycling, and construction and demolition materials collection, processing and disposal services to the healthcare industry."
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.
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