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Stericycle (Nasdaq: SRCL) has successfully divested its global product recall business, Expert Solutions, to Sedgwick, with plans to use the proceeds for debt reduction. The sale aligns with Stericycle's strategy to streamline operations and focus on core business areas. This divestiture includes approximately 315 team members and seven facilities across the U.S., U.K., and Canada. CEO Cindy J. Miller emphasized the company's commitment to enhancing revenue quality and operational efficiencies.
Stericycle Communication Solutions, a leader in patient engagement, has upgraded its Intelligent Scheduling solution with new features like telehealth scheduling and self-guided triage. These enhancements allow healthcare providers to attract and retain patients, filling schedules while reducing no-shows. The system integrates with various care venues and supports online appointment booking, virtual waiting rooms, and multi-language options. These improvements aim to streamline patient access to care and enhance operational efficiency for health systems.
Stericycle (Nasdaq: SRCL) will participate in the 2020 Bank of America Merrill Lynch Leveraged Finance Conference on November 30, 2020. Andrew Ellis, Vice President of Investor Relations, and Ritu Narula, Vice President & Treasurer, will host a virtual fireside chat and investor calls during the event.
Stericycle is a leading provider of compliance-based solutions, serving customers in the U.S. and 17 countries. The company focuses on regulated medical waste management, secure information destruction, and brand protection. For more details, visit www.stericycle.com.
Stericycle, Inc. (Nasdaq: SRCL) will participate in Nasdaq’s 43rd Investor Conference on December 1, 2020. CEO Cindy Miller and CFO Janet Zelenka will engage in a virtual fireside chat and investor calls. This event highlights Stericycle's commitment to transparency and investor relations. The company is a leader in compliance-based solutions, providing services in regulated medical waste management and secure information destruction across the U.S. and 17 countries.
Stericycle has been recognized as the 2020 Enterprise Company of the Year by the Business Intelligence Group for its significant role in managing medical waste during the COVID-19 pandemic. The company effectively supported over 2,000 COVID-19 testing sites and collaborated with regulatory agencies to ensure safe disposal practices. CEO Cindy Miller emphasized Stericycle's commitment to public health and its operational capacity to support healthcare workers during crises. With over 30 years of experience, Stericycle's service is pivotal in mitigating the spread of infectious diseases.
Stericycle, Inc. (Nasdaq: SRCL) announced the pricing of a $500 million offering of 3.875% senior notes, due January 15, 2029, which will close around November 24, 2020. The proceeds will be used to repay part of the company's senior credit facility and term loan. The notes are offered to qualified institutional buyers and will not be registered under the Securities Act. This move is part of Stericycle's ongoing efforts to manage debt and strengthen its financial position amidst the challenges posed by the COVID-19 pandemic.
Stericycle (Nasdaq: SRCL) announced plans to offer $400 million in senior notes due 2029 to repay existing borrowings. These senior unsecured obligations are aimed at enhancing the company's financial position. The notes will be sold under Rule 144A and Regulation S, targeting qualified institutional buyers and non-U.S. persons. This move aligns with Stericycle's strategy of managing its debt effectively. However, the offering will not be registered under the Securities Act, limiting its sale in the U.S. without exemption.
Stericycle reported third-quarter results on November 5, 2020, revealing revenues of $636.4 million, a 23.6% drop from $833.1 million year-over-year, attributed to divestitures and COVID-19 impacts. Loss from operations was $55.8 million, worsening from a $34.5 million loss last year. Net loss reached $81.2 million, or $0.89 per share, compared to $59.2 million, or $0.65 per share in 2019. Despite challenges, cash flow from operations improved significantly to $365.2 million, while free cash flow reached $270.5 million. Net debt was reduced by $135.5 million, marking an overall stabilization in financial metrics.
Stericycle announced that CEO Cindy Miller, CFO Janet Zelenka, and VP of Investor Relations Jennifer Koenig will present at two virtual conferences. The conferences are the Stifel 2020 Virtual Cross Sector Insight Conference on June 8, 2020, and the William Blair 40th Annual Growth Stock Conference on June 10, 2020. Stericycle, listed under the ticker SRCL, is a leader in compliance-based solutions for regulated medical waste management and secure information destruction, serving customers worldwide.