Date: April 18, 2007
Source: MedServe, Inc.
MedServe Expands Service to All of California with Latest Acquisition From InEnTec Medical Services
Company completes fourth acquisition announced in past 30 days as part of its aggressive growth strategy to build a national presence
MedServe, Inc., through its operating subsidiary Enserv West, L.L.C., has completed yet another acquisition, acquiring the medical waste service and collection business of InEnTec Medical Services California, L.L.C., as part of its continued consolidation of local and regional operators in the medical waste industry nationwide. Purchase price for the acquisition was undisclosed.
"With this transaction, we add more than 1,000 new customers to our 10,000-customer base and expand service to all parts of California," said MedServe President Mike Fields. "This acquisition also adds new permitted medical waste facilities in the San Diego and Bay areas of the state. We welcome InEnTec operations, sales, and the members of management who will continue as part of the expanding MedServe team."
InEnTec's medical waste customer base is a mix of small to medium-sized quantity generators as well as a number of large medical facilities. InEnTec is a subsidiary of Integrated Environment Technologies, L.L.C., an engineering company that has developed a patented process based on plasma arc technology for gasifying all forms of waste, and using the gas generated to make valuable energy products, while ensuring the waste is permanently destroyed. According to David Farmer, president of InEnTec, "The sale of our medical waste service and collection division to MedServe allowed us greater strategic focus to complete construction of our first Plasma Enhanced Melter facility in Northern California. We look forward to a long-term partnering relationship with MedServe."
MedServe's management has now completed 14 acquisitions in less than two years in its quest to become the second largest company in the medical waste management sector. These acquisitions, combined with strong organic growth, have more than quadrupled MedServe's customer base and quadrupled revenues since the company's founding in 2005. The company is led by Roger Ramsey, former founder and chief executive officer of Allied Waste Industries and co-founder of Browning Ferris Industries (BFI), and Mike Fields, former president of BFI Medical Waste.
Fields added that the company continues to seek further expansion opportunities, including the addition of new markets. Current letters of intent should allow MedServe to expand into other new geographic regions in the very near future.
About MedServe
MedServe Inc.'s operating subsidiaries - Enserv, MedShred, and Envirosolve - are headquartered in Houston, Texas. We serve public and private hospitals, patient clinics, physicians, veterinary clinics and laboratories across the Southeast, Southwest, West and Midwest regions, providing turnkey medical waste management solutions. These turnkey services include high quality mobile medical waste treatment services, waste liability management, waste minimization programs, sharps tracking and retrieval, and medical waste collection, transport, treatment and disposal. MedServe Inc. and its operations and subsidiaries are in no way affiliated with the Harris County Medical Society. For additional information about our health care waste management solutions, please visit www.medserve.com.
For more information, contact:
Gretchen Weis
Weis Communications
713-385-8912
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