September 10, 2015
ProMed Waste Solutions LLC has purchased two medical waste transport companies in Florida, in its effort to add more resources in key geographic markets.
ProMed, a St. Petersburg, Fla.-based medical waste firm, acquired BioTram Inc. of Largo, Fla., and Bio-Man LLC of Naples, Fla., for an undisclosed amount.
The moves fit with the company’s strategy to increase service route density, according to a news release. It also allows the firm to more efficiently leverage key customer and sales synergies.
Acquiring local expertise also strengthens the firm’s goal to be a leader in compliance and safety as well as to meet Florida’s growing needs with a local provider, the company said.
“The medical waste disposal market in Florida is thriving,” said ProMed Waste Solutions President Paul Reddish. “Our recent acquisitions, along with our organic growth plan, position us well to continue to be a local leader in the industry, and to further expand our customer base throughout the state of Florida.”
ProMed was founded in 2011 with operations in the Orlando area, and it since has expanded statewide, including operations outside Miami. It provides services to a range of medical waste generators, and also provides disposal services for hazardous waste, pharmaceutical waste, electronic waste and solid waste.
It’s been an active year for medical waste acquisitions. In August MedPro Waste Disposal LLC purchased Medmentum Inc.’s medical waste transporting operations. Naperville, Ill.-based MedPro has acquired all the local hauling operations of Medmentum, a medical waste disposal franchise development company.
In July, medical and hazardous waste management firm Sharps Compliance Corp. acquired collection company Alpha Bio/Med Services LLC. Houston-based Sharps also said it is launching a company-sponsored route-based pickup operation in Texas, serving the Texas cities of Dallas, Houston, San Antonio and Austin, as well as Shreveport, La.
But the big purchase that month was medical waste firm Stericycle Inc. agreeing to buy information destruction firm Shred-it International for $2.3 billion. The Lake Forest, Ill.-based Stericycle said the purchase strengthens the company’s growth opportunities by providing an additional business-to-business compliance solution, taking advantage of the company’s existing core capabilities and expanding its global reach. Shred-it, based in Oakville, Ontario, provides secure information destruction services to more than 400,000 customer locations in 15 countries. The company has pro forma revenue for the 12-month period ending in March at $726 million.