Mesa Laboratories (MLAB) Acquires Mydent International
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Mesa Laboratories, Inc. (Nasdaq: MLAB) announced the acquisition of certain assets and liabilities of Mydent International Corp. (“Mydent”). Mesa previously provided biological indicator mail-in testing services (“Mail-In”) to Mydent under an original equipment manufacturer agreement. The acquisition is expected to add approximately $200,000 to Mesa’s revenues and to be accretive to our diluted net income per share during the first 12 months.
Mesa purchased only the Mail-In rights from Mydent and as a result, the sale and service of all their other product lines will continue as normal and are not affected in any way by the acquisition of the Mail-In business.
Mydent’s Mail-In business involves the testing of small table-top sterilizers in the U.S. dental industry under CDC and State guidelines, which generally require that each sterilizer is tested weekly using biological indicators (“BI’s”). In practice, for each sterilizer that a dental practice may have, Mydent delivers a kit that contains sufficient BI’s for 52 weeks of testing. To conduct the test, the BI’s are processed through the sterilizer in the dental office and then mailed back for testing to determine if the sterilizer was working correctly. Mydent also provides on-line access to test results, allowing the dentist to track the performance of each sterilizer. After a short transition period, Mesa will continue this business from its office in Traverse City, Michigan.
“This is the third domestic acquisition of a dental testing business, which increases our direct to dentist efforts in the United States” said Peter Jung, VP of Corporate Development and Strategy for Mesa. “The acquisition of Mydent continues the trend of increasing our direct to dentist testing business, improving efficiency and profitability. Selling direct allows Mesa to capture additional margin and to better understand the needs of our customers, enabling us to grow our Mail-In business more effectively.”
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