WEBVTT - Cantel's New CEO Hansen on Growth: New Products, M&A (Audio)

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<v Speaker 1>Broadcasting live to New York Bloomberg eleven, Rio to Washington,

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<v Speaker 1>d C, Bloomberg to Boston Bloomberg, dwell under It to

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<v Speaker 1>San Francisco, Bloomberg to the countries es Exam Channel one,

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<v Speaker 1>and around the globe the Bloomberg Radio Plausaben Bloomberg Got Gone.

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<v Speaker 1>This is taking Stock, an acquisition and a new chief

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<v Speaker 1>executive of a Cantel Medical Corps. We're going to talk

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<v Speaker 1>about the acquisition and also how it is expanding across

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<v Speaker 1>its business units, talking about single use nasal masks, for example,

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<v Speaker 1>to eliminate cross contamination, preventing infections in hospitals. This is

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<v Speaker 1>such an important priority for so many people in the

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<v Speaker 1>medical Fielder eager to talk to our fresh limnted CEO.

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<v Speaker 1>Coming up on taking Stock. Now, we're getting to Charlie

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<v Speaker 1>Pellett in the news room for a Bloomberg Business Flash

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<v Speaker 1>and thank you very much, Kathleen Hayes, thank you, pim Fox.

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<v Speaker 1>We're looking at a lower Dawa Laura s P five

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<v Speaker 1>hundred index and higher and astack compositive index. We begin

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<v Speaker 1>with the SMP down four now at sine a drop

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<v Speaker 1>there of two tents of one percent. The SMP five

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<v Speaker 1>hunded index were retreating from an intra day record as

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<v Speaker 1>falling crude prices sparks a deepening sell off in energy shares,

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<v Speaker 1>weighing on investors confidence of the US growth and corporate

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<v Speaker 1>profits will rebound. David Joy is chief market strategist at

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<v Speaker 1>a mere Prized Financial. He was interviewed this morning on

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<v Speaker 1>Bloomberg Television. Well, I think on the energy front, clearly,

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<v Speaker 1>the rebalancing of the market is taking a lot longer

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<v Speaker 1>than people expected. We've got an inventory overhang that just

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<v Speaker 1>doesn't seem to want to go away. And now we've

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<v Speaker 1>got the rig count going up, so that's not helping. Uh.

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<v Speaker 1>So that's number one. And then number two. Uh, you've

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<v Speaker 1>had a couple of things. One, uh, the the economy

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<v Speaker 1>slowing down uh and just not gaining any real traction.

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<v Speaker 1>And you've had the Fed uh struggling to try and

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<v Speaker 1>convince the markets that they're still elevent at least for

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<v Speaker 1>the remainder of this year. And West Texas Intermedia crewed

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<v Speaker 1>now at forty oh nine, did trade below forty dollars

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<v Speaker 1>of barrel just a couple of minutes ago. Uh, it

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<v Speaker 1>is down. West Texas Intermediate Crew down three point six

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<v Speaker 1>brent forty two oh three of barrel, down three and

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<v Speaker 1>a half percent. Manufacturing expanded in July, though at a

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<v Speaker 1>slower pace, indicating gradual improvement that could help the economy

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<v Speaker 1>emerge from a week first half of the year. That's

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<v Speaker 1>according to the Institute for Supply Management, who we just

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<v Speaker 1>had right here on Bloomberg Radio. Ten year down eleven

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<v Speaker 1>thirty seconds, the yield there one point four nine percent,

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<v Speaker 1>and at two thirty two on Wall Street. Let's take

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<v Speaker 1>a look at some of the other stories making news.

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<v Speaker 1>Thank you Charlie from the Bloomberg News room. My Raimi

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<v Speaker 1>in a cent cio. Democratic presidential nominee Hillary Clinton is

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<v Speaker 1>campaigning in Omaha, Nebraska today. Community activist Preston Love is

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<v Speaker 1>among those looking forward to hearing her speak. Most important

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<v Speaker 1>to me, as in havoc it from my beloved North Foma,

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<v Speaker 1>is that she's visiting North Foma. Billionaire Warren Buffett will

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<v Speaker 1>be joining Clinton at the event. Alarming news from Florida,

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<v Speaker 1>where health officials have discovered more cases of ZEKEA virus.

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<v Speaker 1>Now Florida's governor is asking for help, as we learned

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<v Speaker 1>from Amy Morris in the Bloomberg newsroom in Washington, Florida

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<v Speaker 1>Governor Rick Scott asking for a federal emergency response team

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<v Speaker 1>to help stop the spread of ZEKEA in Florida and

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<v Speaker 1>the US. Scott says the number of cases in Florida

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<v Speaker 1>is now fourteen, clustered in one square mile neighborhood in

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<v Speaker 1>Miami Dade County. For now, health officials believe the active

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<v Speaker 1>transmissions are just in that area, and they believe these

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<v Speaker 1>are the first people to contract the virus from mosquitoes

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<v Speaker 1>at the US anymore. As Bloomberg radio, a storm system

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<v Speaker 1>is gaining strengthen the Caribbean. Jamaica's Weather Service has issued

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<v Speaker 1>an alert advising small vessels to return to shore in

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<v Speaker 1>warning that flash flooding is likely across the island. The

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<v Speaker 1>U S National Hurricane Center says a system could be

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<v Speaker 1>upgraded to tropical storm EARL sometime today. And Manhattan judge

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<v Speaker 1>has reversed a two point seven million dollar civil judgment

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<v Speaker 1>that said convicted child molester Jose Ramos killed six year

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<v Speaker 1>old eighton Pace went missing in nineteen seventy nine. Another man,

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<v Speaker 1>Pedro Hernandez, is charged with the murder. His first trial

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<v Speaker 1>ended in a hung jury, partly because the civil judgment

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<v Speaker 1>was used in his defense. Global News twenty four hours

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<v Speaker 1>a day, powered by more than journalists and analysts in

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<v Speaker 1>more than one hundred twenty countries. I'm Ramy in Essensio.

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<v Speaker 1>This is Bloomberg, Charlie, and we thank you and again

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<v Speaker 1>recapping has some p lower down three points now to

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<v Speaker 1>sixty nine and drop there of two tenths of one percent.

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<v Speaker 1>I'm Charlie Palatine. Dat's a Bloomberg business flash. You're listening

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<v Speaker 1>to taking stock with bim Box and Kathleen Hays on

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<v Speaker 1>Bloombird Radio. Can't tell Medical Group of leading global company

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<v Speaker 1>as a dedicad delivering innovative infection prevention products and services.

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<v Speaker 1>Quite a day to day for the company, a new CEO,

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<v Speaker 1>an acquisition, and a share price it's moving higher. Maybe

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<v Speaker 1>that's some applause for the man who's taking the helm

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<v Speaker 1>of the company today. We're very happy to introduce. Now

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<v Speaker 1>you're in Hansen. He is CEO of Cantel Medical Corp.

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<v Speaker 1>A company that he has worked with now for some time,

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<v Speaker 1>joining us in studio to talk about the company where

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<v Speaker 1>he intends to take it next and in fact where

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<v Speaker 1>he's taking it today. You're and welcome to the show.

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<v Speaker 1>Thank you, Kathleen. So, first of all, a little bit

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<v Speaker 1>more about can Tell what you are and what you do.

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<v Speaker 1>Can Tail is a company that is a completely dedicated

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<v Speaker 1>to infiction prevention. Our business is driven by some of

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<v Speaker 1>the major health issues in the world, including colorrectal cancer, diabetes, diabetes, obesity,

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<v Speaker 1>and then the dental business. We have a range of

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<v Speaker 1>products that goes into those areas and they all focused

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<v Speaker 1>our own infection convention. I want to just mention that

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<v Speaker 1>the shares of Cantel Medical are about two percent. Perhaps

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<v Speaker 1>investors happy about your latest acquisition of acute On tell

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<v Speaker 1>us how this expands your business in the dental segment.

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<v Speaker 1>Thank you, pim Uh In cancerl We are focused on

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<v Speaker 1>delivering full solutions that help prevent infections in the spaces

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<v Speaker 1>that we operate within dental. The Acutron acquisition, which we

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<v Speaker 1>are very excited about, adds another line of products single

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<v Speaker 1>use nasal masks that are used in connection with conscious

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<v Speaker 1>station and it's another product to our portfolio that it

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<v Speaker 1>helps the dentists prevented fictions doing procedures. So your role

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<v Speaker 1>now is CEO. Tell us a little bit about how

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<v Speaker 1>you got into this field, How you got into this company,

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<v Speaker 1>Where and when you see your company in industry heading,

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<v Speaker 1>what are the opportunities. I've been in the mid device

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<v Speaker 1>business now for almost twenty years at various companies in

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<v Speaker 1>eurb Asia and now the US. Cancer medical is in

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<v Speaker 1>a in a great space. We are, as I mentioned,

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<v Speaker 1>focused on on preventing infections and prevention is theme for

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<v Speaker 1>the healthcare providers all over the world. To spend a

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<v Speaker 1>dollar on prevention is much better than wait for an

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<v Speaker 1>infection to happen. So we feel very confident about our

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<v Speaker 1>markets and I see it by future for the future

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<v Speaker 1>for the company. You also have a segment that focuses

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<v Speaker 1>on water purification and filtration. Tell us about that. A

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<v Speaker 1>water purification of filtration business is mainly focused on hemodialysis water,

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<v Speaker 1>so that is water used for hemodialysis. There's about six

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<v Speaker 1>thousand five clinics in the US and about four and

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<v Speaker 1>fifty procedures conducted a year, and we part take in

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<v Speaker 1>about those procedures. So R and D Research and Development

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<v Speaker 1>talked to us about that part of the business. What

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<v Speaker 1>kind of scientists How much do you invest? Because I

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<v Speaker 1>would think if you want to be a leader, and

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<v Speaker 1>you want to compete, you've always got to be improving there.

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<v Speaker 1>Absolutely we have. We have three three growth priorities for

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<v Speaker 1>the company, new product development, market expansion supported by M

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<v Speaker 1>and A. In terms of R and D, we have

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<v Speaker 1>a fairly large direct R and D team based out

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<v Speaker 1>of our campus in Minnesota, focusing in understanding needs for

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<v Speaker 1>infection prevention in the hospital and in a dental area

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<v Speaker 1>in NHEM analysis, and we have launched wide rains of

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<v Speaker 1>products over the last few years to supplement that. When

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<v Speaker 1>we look at companies like for example, Equiton today, they

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<v Speaker 1>bring new products to our back and opens up new

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<v Speaker 1>opportunities for help fighting infections. We talk about fighting infections,

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<v Speaker 1>A lot of that has to do with just disinfect

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<v Speaker 1>and chemicals, right, tell us about that group and also

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<v Speaker 1>tell us a little bit about how pernicious these kinds

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<v Speaker 1>of infections can be. Yeah, we are. We are. Actually

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<v Speaker 1>both are developed on the manufacture of chemical disinfections. Our

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<v Speaker 1>main product is parasitic acid that is used for cleaning

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<v Speaker 1>scopes and has all kinds of beneficial properties. The main

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<v Speaker 1>area that might be familiar to the general public is

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<v Speaker 1>that there has been issues where cleaning cols or do

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<v Speaker 1>a demo scopes over the last couple of years and

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<v Speaker 1>with our solutions, our equipment and our chemistry combined, we

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<v Speaker 1>can completely eradicate those issues. And that's one of the

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<v Speaker 1>reasons why the company is very, very busy today. Who's

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<v Speaker 1>your biggest competition and where do you see the most

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<v Speaker 1>potential for growth? United States, Asia, Europe. We have a

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<v Speaker 1>very strong US market at the moment, driven by the

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<v Speaker 1>aforementioned issues. Our main competitors are very different depending on

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<v Speaker 1>what part of the world. In the US, it's mostly Olympus.

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<v Speaker 1>The Olympics are manufacturer of scopes, but they also make

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<v Speaker 1>various products that goes into the g I suite. In

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<v Speaker 1>Europe and Asia, the competition is is quite different depending

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<v Speaker 1>on each market, so we feel we have a strong

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<v Speaker 1>competitive position. We are focused to our business areas. We

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<v Speaker 1>get up in the morning and think about fighting infections

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<v Speaker 1>in all particular area and nobody if none of our

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<v Speaker 1>competitors are really doing that, they're doing a lot a

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<v Speaker 1>lot of other things. So thank you very much for

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<v Speaker 1>coming in and spending time with us. John Hanson, he

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<v Speaker 1>is the president and the chief executive, can tell Medical Group.

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<v Speaker 1>They're based in Little Falls, New Jersey. The symbol is

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<v Speaker 1>c m N. The stock right now up a little

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<v Speaker 1>bit more than two percent higher by a dollar thirty

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<v Speaker 1>six at six thirty one. The shares are up nearly

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<v Speaker 1>ten percent so far this year, and the dividend is

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<v Speaker 1>about two tenths of a percent. Thank you, Kathleen. You

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<v Speaker 1>think that the growth in infectious disease prevention would also

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<v Speaker 1>bolster the industry of Cantel Medical, And of course this

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<v Speaker 1>is a situation where hospitals cannot skimp on these kinds

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<v Speaker 1>of efforts. If you're listening to taking stock and this

0:10:55.840 --> 0:11:02.960
<v Speaker 1>is Bloomberg to China, we go to look broadly at

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<v Speaker 1>the economy, big slowdown. Looks like manufacturing continues to stumble.

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<v Speaker 1>And did he buys a big, big chunk of uber?

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<v Speaker 1>Who won? Who lost? This is Bloomberg