BANNOCKBURN, Sick., Dec. 02, 2020 (Globe NEWSWIRE) — Stericycle, Inc. (Nasdaq: SRCL) right now declared that it has accomplished the divestiture of its world-wide solution remember enterprise (Skilled Options) to Sedgwick. Stericycle intends to use the web proceeds from the divestiture to pay back down outstanding debt.
“The sale of Pro Answers demonstrates our continued motivation to produce on our vital business priorities,” claimed Cindy J. Miller, Main Executive Officer of Stericycle. “By streamlining Stericycle to its core corporations, we are in a position to focus increased notice on driving excellent of profits initiatives and bettering sustainable operational efficiencies all over our organization.”
“I would like to thank our staff associates transitioning to Sedgwick. We are assured that Sedgwick will assure ongoing high quality of company for clients,” Miller included.
The divested business enterprise features close to 315 group users and seven facilities in the United States, United Kingdom and Canada.
BofA Securities acted as the money advisor to Stericycle with regard to the transaction to divest the world wide solution remember company and Polsinelli acted as authorized advisor.
Stericycle, Inc., (Nasdaq: SRCL) is a U.S. based mostly organization-to-business expert services business and top company of compliance-dependent options that safeguards people, promotes wellbeing and safeguards the surroundings. Stericycle serves consumers in the U.S. and 17 nations with answers for controlled waste and compliance alternatives, secure information and facts destruction, and patient engagement. For additional info about Stericycle, be sure to visit www.stericycle.com.
Safe HARBOR Assertion
This press release might have ahead-looking statements as defined in the Private Securities Litigation Reform Act of 1995. When we use terms these kinds of as “believes,” “expects,” “anticipates,” “estimates,” “may,” “plan,” “will,” “goal” or very similar expressions, we are producing forward-looking statements. Forward-hunting statements are future in character and are not dependent on historical info, but somewhat on latest anticipations and projections of our management about potential gatherings and are consequently subject to dangers and uncertainties, which could lead to true results to differ materially from the potential results expressed or implied by the ahead-on the lookout statements. Factors that could lead to these kinds of variances incorporate, amongst other people, our proposed non-public featuring of the Notes and the relevant assures and our use of the proceeds from this kind of featuring, developments in the COVID-19 pandemic and the ensuing influence on the results of functions, precautions we have taken to safeguard the health and safety of our workforce which might make sure of our enterprise procedures a lot less economical, steps taken by governmental authorities to protect against the spread of the COVID-19 virus which could disrupt our offer chain, consequence in disruptions in transportation providers and limits on the capability of our employees to journey, result in short-term closure of our amenities or the services of our shoppers and suppliers, affect the volume of paper processed by our secure facts destruction enterprise and the profits produced from the sale of sorted place of work paper (“SOP”), disruptions in our associations with our staff as a outcome of particular expense-preserving measures, an financial slowdown in the U.S. and other international locations ensuing from the outbreak of the COVID-19 virus, SOP pricing volatility, foreign exchange amount volatility in the jurisdictions in which we run, the quantity and dimension of any recall events, variations in governmental regulation of the collection, transportation, procedure and disposal of controlled squander or the right dealing with and protection of individual and private information, the degree of federal government enforcement of restrictions governing controlled waste selection and remedy or the good handling and security of personalized and private details, decreases in the quantity of controlled wastes or personal and private data gathered from customers, the potential to carry out our business useful resource planning (ERP) program, fees related to portfolio rationalization or the failure of divestitures to reach the ideal benefits, failure to consummate transactions with regard to non-core companies, the obligations to support significant indebtedness and comply with the covenants and constraints contained in our credit history agreements and notes, a downgrade in our credit ranking resulting in an improve in interest expenditure, political, economic, inflationary and other risks connected to our foreign functions, the final result of pending or potential litigation or investigations which includes with respect to the U.S. Foreign Corrupt Procedures Act, altering sector situations in the healthcare field, opposition and demand for providers in the regulated waste and secure facts destruction industries, failure to maintain an powerful technique of inner manage in excess of economical reporting, delays or failures in utilizing remediation endeavours with regard to existing or future content weaknesses, disruptions in or attacks on information and facts know-how programs, as nicely as other aspects described in our filings with the U.S. Securities and Exchange Fee, such as our Once-a-year Report on Kind 10-K for the fiscal 12 months ended December 31, 2019 and subsequent Quarterly Experiences on Types 10-Q. As a end result, past economic efficiency ought to not be viewed as a responsible indicator of foreseeable future efficiency, and investors need to not use historical tendencies to anticipate long term results or developments. We disclaim any obligation to update or revise any forward-wanting or other statements contained herein other than in accordance with lawful and regulatory obligations.
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Stericycle Trader Relations 847-607-2012