Expands Services into the Medical and Pharmaceutical Waste Sector
ATLANTA, GA, Jan. 24, 2018 (GLOBE NEWSWIRE) -- Meridian Waste Solutions, Inc. (NASDAQ: MRDN) (“Meridian” or the “Company”), an integrated, non-hazardous solid waste services and innovative technology company, today announced the closing of the acquisition of RedX Medical, LLC (d/b/a EnviCare). The transaction expands Meridian’s services into the medical and pharmaceutical waste sector.
EnviCare is a regulated medical waste company which will provide waste transportation and disposal solutions for regulated and specialized waste, pharmaceutical disposal solutions, sharpes management services, controlled substance waste solutions, integrated waste solutions for large healthcare facilities, and compliance training and education for the healthcare industry. EnviCare is based in the Atlanta area with the ability to service the Southeast, and expects to expand to cover the entire United States.
The acquisition of EnviCare builds upon Meridian’s healthcare footprint, established by the acquisition of four companies in 2017. These companies included DxT Medical, LLC (DxT), a national healthcare sales company, as well as LGMG, LLC (d/b/a Verifi Resource Group), a hospital lab management company based in Tulsa, OK, whose services cover several states in the Midwest and South.
“EnviCare complements the services which we offer our current health care customers, as well as expands our network to new markets,” stated Jeff Cosman, CEO of Meridian Waste Solutions. “This acquisition will allow us to further develop our model which enhances community assets and provides a pathway to sustainability for our local environments. By providing services that help the company grow vertically, Meridian will continue to increase the financial value held by our shareholders.”
About Meridian Waste Solutions, Inc.
Meridian Waste Solutions, Inc. (NASDAQ: MRDN) is a company defined by our commitment to servicing our customers with unwavering respect, fairness and care. We are focused on finding and implementing solutions for the resource needs and challenges of our customers with a fundamental objective to seek rewarding environmental solutions through technology and innovation. Our core waste business is centered on residential and commercial waste collection and disposal. Currently, the company operates in St. Louis, Missouri and Richmond, Virginia servicing over 130,000 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll off trucks, the Company operates three transfer stations, one recycling facility and three municipal solid waste landfills. The technology division centers on creating community-based synergies through healthcare collaborations and software solutions. Our innovation division (http://attisinnovations.com) strives to create value from recovered resources, through advanced byproduct technologies and assets found in downstream production. For more information, visit www.MWSinc.com.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, our current reports on Form 8-K.