Stericycle, a Lake Forest, Ill.-based medical waste management company, completed its acquisition of Healthcare Waste Solutions.
Stericycle said in a news release that the deal was completed after it had reached an agreement with the U.S. Justice Department and the state of New York, which cleared the acquisition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
As part of the deal, Stericycle said it acquired Cincinnati-based HWS from Altaris Capital Partners for $237 million in cash and debt assumption. It had initially agreed in September to buy HWS for $245 million in cash and debt assumption.
HWS is expected to provide Stericycle with about $45 million in annualized revenue, according to a news release.
Dow Jones Newswires reported April 8 that Stericycle was required to divest one of its assets to gain approval for the acquisition; the Justice Department said the deal would reduce competition for infectious waste treatment services for healthcare facilities in the New York City region.
A spokesperson for Stericycle was not available for comment.
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