Stericycle: Difference between revisions
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On February 14, 2012, Stericycle announced that its [[board of directors]] unanimously elected Charles A. Alutto, current [[President]] of Stericycle, USA, to succeed Mr. Miller as Stericycle’s [[Chief Executive Officer]] on January 1, 2013. Mr. Miller will continue working at Stericycle in his current roles as Chairman and CEO until then and as Executive Chairman beginning January 1, 2013. |
On February 14, 2012, Stericycle announced that its [[board of directors]] unanimously elected Charles A. Alutto, current [[President]] of Stericycle, USA, to succeed Mr. Miller as Stericycle’s [[Chief Executive Officer]] on January 1, 2013. Mr. Miller will continue working at Stericycle in his current roles as Chairman and CEO until then and as Executive Chairman beginning January 1, 2013. |
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==Controversy== |
== Controversy == |
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In 1999 [[Republican]] presidential nominee [[Mitt Romney]]'s investment company [[Bain Capital]] made a large financial investment in Stericycle.<ref>[http://www.motherjones.com/politics/2012/07/romney-bain-abortion-stericycle-sec]</ref> This became a serious liability for the republican candidate due to the fact that Stericycle made money from and participates in the abortion industry, by disposing of aborted fetuses. Mitt Romney's participation in the investment company has become a heated topic in the 2012 Presidential Election.<ref>[http://leanforward.msnbc.msn.com/_news/2012/07/02/12532833-just-when-did-romney-leave-bain-report-on-medical-waste-firm-raises-fresh-questions?lite]</ref> |
In 1999 [[Republican]] presidential nominee [[Mitt Romney]]'s investment company [[Bain Capital]] made a large financial investment in Stericycle.<ref>[http://www.motherjones.com/politics/2012/07/romney-bain-abortion-stericycle-sec]</ref> This became a serious liability for the republican candidate due to the fact that Stericycle made money from and participates in the abortion industry, by disposing of aborted fetuses. Mitt Romney's participation in the investment company has become a heated topic in the 2012 Presidential Election.<ref>[http://leanforward.msnbc.msn.com/_news/2012/07/02/12532833-just-when-did-romney-leave-bain-report-on-medical-waste-firm-raises-fresh-questions?lite]</ref> |
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| ⚫ | He claimed to not be a party to the transaction while Bain Capital, Romney's own testimony, and [[SEC]] documents state otherwise. Stericycle was found to have been operating unsafely in Arkansas, Rhode Island, Arizona, and Washington, and settled several lawsuits in 2002 and 2003. Workers were placed at risk at a number of Stericycle facilities and were also exposed to disease including [[Tuberculosis]].<ref>[http://motherjones.com/politics/2012/07/romney-bain-abortion-stericycle-sec]</ref> |
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Internationally, they've been providing medical waste disposal service since 1998. Today, Stericycle operates in the [[United States]], [[Canada]], [[Mexico]], [[Argentina]], [[Chile]], [[Japan]], [[Brazil]], [[Portugal]], [[Romania]], [[the United Kingdom]] and [[Ireland]]. |
Internationally, they've been providing medical waste disposal service since 1998. Today, Stericycle operates in the [[United States]], [[Canada]], [[Mexico]], [[Argentina]], [[Chile]], [[Japan]], [[Brazil]], [[Portugal]], [[Romania]], [[the United Kingdom]] and [[Ireland]]. |
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== See also == |
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* [[ Uniview ]] |
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* [[ Sankaty ]] |
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* [[ sterol ]] |
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* [[ steroid ]] |
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== References == |
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{{reflist}} |
{{reflist}} |
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Revision as of 05:00, 17 July 2012
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| File:SRCL.gif | |
| Company type | Public |
|---|---|
| Nasdaq: SRCL S&P 500 Component | |
| Industry | Services - Medical Waste Disposal, Return and Recall Services |
| Founded | 1989 |
| Headquarters | , |
Key people | Mark C. Miller, CEO Frank J.M. ten Brink, Chief Financial Officer |
| Revenue |  US$1.2 Billion (FY 2009)[1] |
| Website | www.stericycle.com |
Stericycle (Nasdaq: SRCL) specializes in collecting and disposing medical waste, recalled and expired medical products, and infection control management and services. The company was founded in 1989 and is based in Lake Forest, Illinois.
Stericycle became a publicly traded company in 1996, and emerged as North America's largest provider of medical waste services in 2000.
Stericycle, Inc., together with its subsidiaries, offers institutional regulated waste management services, Bio Systems sharps management services to reduce the risk of needle sticks, various products and services for infection control, and regulated returns management services for expired or recalled healthcare products.
The company serves the large-quantity regulated waste generators, such as hospitals, blood banks, and pharmaceutical manufacturers; and small-quantity generators of regulated waste, which include outpatient clinics, medical and dental offices, funeral homes, long-term and sub-acute care facilities, and retail pharmacies.
History
Stericycle was founded in 1989 and became a publicly traded company in 1996.
In 2001, Stericycle began offering safety and compliance training services with the launch of the Stericycle Steri-Safe OSHA Compliance program.
Stericycle grew their hospital offerings in 2003 when they acquired Bio Systems Sharps Management service. Since then, they have expanded Stericycle Bio Systems nationally.
As of December 31, 2008, Stericycle had a network of 89 processing or combined processing, and collection sites; and 97 additional transfer, collection, or combined transfer and collection sites.
In December 2011, Stericycle owners confirmed the company has completed a funding round raising £5.1m in order to expand its waste processing capacity at the Rotherham plant [2]. New investor Finance Yorkshire led the round, investing £1.25m, while German businessman Lars Windhorst and existing investors contributed the remaining £3.85m [3].
On February 14, 2012, Stericycle announced that its board of directors unanimously elected Charles A. Alutto, current President of Stericycle, USA, to succeed Mr. Miller as Stericycle’s Chief Executive Officer on January 1, 2013. Mr. Miller will continue working at Stericycle in his current roles as Chairman and CEO until then and as Executive Chairman beginning January 1, 2013.
Controversy
In 1999 Republican presidential nominee Mitt Romney's investment company Bain Capital made a large financial investment in Stericycle.[4] This became a serious liability for the republican candidate due to the fact that Stericycle made money from and participates in the abortion industry, by disposing of aborted fetuses. Mitt Romney's participation in the investment company has become a heated topic in the 2012 Presidential Election.[5]
He claimed to not be a party to the transaction while Bain Capital, Romney's own testimony, and SEC documents state otherwise. Stericycle was found to have been operating unsafely in Arkansas, Rhode Island, Arizona, and Washington, and settled several lawsuits in 2002 and 2003. Workers were placed at risk at a number of Stericycle facilities and were also exposed to disease including Tuberculosis.[6]
International
Internationally, they've been providing medical waste disposal service since 1998. Today, Stericycle operates in the United States, Canada, Mexico, Argentina, Chile, Japan, Brazil, Portugal, Romania, the United Kingdom and Ireland.
See also
References
- ^ Stericycle (SRCL) annual SEC income statement filing via Wikinvest
- ^ Sterecycle raises £5.1m in equity finance from investors, The Engineer, 21 December 2011
- ^ Sterecycle bags £5m equity for Yorkshire waste-to-energy plant, Business Green, 21 December 2011
- ^ [1]
- ^ [2]
- ^ [3]