Stericycle sells division for $45 million
BANNOCKBURN -- Stericycle Inc., a provider of regulated medical waste management and secure information destruction solutions, Thursday said it has completed the sale of its Communication Solutions business to Carenet Health, for approximately $45 million in cash.
Carenet Health, based in San Antonio, is one of the health care industry's leading consumer engagement and telehealth partners.
In connection with the closing, Stericycle and Carenet Health entered into a purchase and transition services agreements. The divested business includes approximately 500 employees in North America.
"The sale of Stericycle Communication Solutions demonstrates our continued commitment to deliver on our portfolio optimization key business priority, marking our eleventh divestiture since 2019," said Cindy J. Miller, chief executive officer of Stericycle. "By further streamlining our company, we are taking another step in our journey to focus on our core businesses and improve sustainable operational efficiencies."