Stericycle Completes Divestiture of Communication Solutions Business to Carenet Health

Stericycle, Inc. a leading provider of regulated medical waste management and secure information destruction solutions, announced that it has completed the divestiture of its Communication Solutions business to Carenet Health, one of the healthcare industry’s leading consumer engagement and telehealth partners, for approximately $45 million in cash, subject to customary adjustments. Stericycle intends to use the net proceeds from the divestiture to pay down outstanding debt.

Stericycle Communication Solutions provides online scheduling, automated messaging and strategic inbound and outbound call center services to drive patient access, action and adherence.   For the nine months ended September 30, 2022, the Communication Solutions business had revenues of approximately $45 million, reported in the North America segment, as part of Regulated Waste and Compliance Services revenues. In connection with the closing, Stericycle and Carenet Health entered into a purchase and transition services agreements. The divested business includes approximately 500 team members in North America.