Cantel Expands GI Capabilities With $100M Byrne Deal

Law360, New York (August 2, 2011, 2:28 PM EDT) -- Cantel Medical Corp. said Tuesday it had agreed to buy privately held Byrne Medical Inc. for $100 million in a deal aimed at boosting its gastrointestinal endoscopy procedures.

The deal calls for Little Falls, N.J.-based Cantel to pay $90 million in cash, while the remaining $10 million will be covered by 401,123 shares of Cantel stock, which is subject to a multiyear lockup and three-year price floor, according to a statement. An additional $10 million payout could kick in should the companies meet certain gross profit...
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