The Next Chapter for Daniels Health
Daniels Health (previously Daniels Sharpsmart) is pleased to announce it will be continuing to grow its global business footprint after signing a binding agreement to sell its Australian medical waste disposal business to Tox Free Solutions Ltd (ASX:TOX) for $186m AUD. In the past financial year, Daniels Australia had revenues of $83m generating an EBITDA of $21m.
This sale is a natural evolution of the Daniels mission to bring to the rest of the world the same sort of innovative approach to medical and sharps waste disposal that we developed in Australia. Ever since we introduced cleaner and more sustainable medical waste solutions in Australia back in 1986, we have been aware of a strong international demand for products such as our Sharpsmart and Medismart reusable sharps and medical waste containers. The sale of the Australian business will allow us to redouble our efforts in expanding into the global healthcare industry, particularly in our current key markets of the United States, Canada, United Kingdom and South Africa
Dan Daniels, Company Founder
"Following our first offshore expansion in 1997, we have had an excellent response from healthcare workers and organisations to our Sharpsmart reusable sharps container system, which has been globally recognised and appreciated for its safety and environmental concern," said Mr. Daniels. Daniels Health chairman, Mr Markus Koch, said the international push was a natural progression for a company that had started out of a concern about the potential environmental damage resulting from the widespread practice of burning biomedical waste, including disposable sharps containers, in inefficient hospital incinerators.
"It was this concern that led us to develop reusable sharps container systems and alternative waste treatment methods, which have resulted in millions of kilograms of plastic being prevented from disposal,"
Markus Koch, Chairman
Daniels Health is the second largest player in North America for the provision of waste services to the healthcare sector. With national coverage including 22 operational sites, Daniels currently services over 5,500 medical waste disposal customers across the US.
Mr. Daniels said Daniels Health provides a comprehensive offering of products and services that vary according to the demands of individual markets and include services such as safer sharps management, effective medical waste treatment, secure pharmaceutical and cytotoxic waste destruction and efficient waste segregation and logistics systems.
"We will continue tailoring our offerings to suit the various markets that we operate in and will invest to support the international growth we have already been experiencing,"
As part of the transaction, Dan Daniels agreed to subscribe for approximately 12.6 million Toxfree shares and became a shareholder in Toxfree on completion of the deal. About 300 employees across 17 sites including two incineration facilities in Sydney and Melbourne, and three joint venture managed sites in New Zealand, were transitioned to Toxfree on December 1 on the signed completion of the transaction between the two companies.