Broadcasting live to New York Bloomberg eleven, Rio to Washington, d C, Bloomberg to Boston Bloomberg, dwell under It to San Francisco, Bloomberg to the countries es Exam Channel one, and around the globe the Bloomberg Radio Plausaben Bloomberg Got Gone. This is taking Stock, an acquisition and a new chief executive of a Cantel Medical Corps. We're going to talk about the acquisition and also how it is expanding across its business units, talking about single use nasal masks, for example,
to eliminate cross contamination, preventing infections in hospitals. This is such an important priority for so many people in the medical Fielder eager to talk to our fresh limnted CEO. Coming up on taking Stock. Now, we're getting to Charlie Pellett in the news room for a Bloomberg Business Flash and thank you very much, Kathleen Hayes, thank you, pim Fox. We're looking at a lower Dawa Laura s P five
hundred index and higher and astack compositive index. We begin with the SMP down four now at sine a drop there of two tents of one percent. The SMP five hunded index were retreating from an intra day record as falling crude prices sparks a deepening sell off in energy shares, weighing on investors confidence of the US growth and corporate profits will rebound. David Joy is chief market strategist at a mere Prized Financial. He was interviewed this morning on
Bloomberg Television. Well, I think on the energy front, clearly, the rebalancing of the market is taking a lot longer than people expected. We've got an inventory overhang that just doesn't seem to want to go away. And now we've got the rig count going up, so that's not helping. Uh. So that's number one. And then number two. Uh, you've had a couple of things. One, uh, the the economy slowing down uh and just not gaining any real traction.
And you've had the Fed uh struggling to try and convince the markets that they're still elevent at least for the remainder of this year. And West Texas Intermedia crewed now at forty oh nine, did trade below forty dollars of barrel just a couple of minutes ago. Uh, it is down. West Texas Intermediate Crew down three point six brent forty two oh three of barrel, down three and
a half percent. Manufacturing expanded in July, though at a slower pace, indicating gradual improvement that could help the economy emerge from a week first half of the year. That's according to the Institute for Supply Management, who we just had right here on Bloomberg Radio. Ten year down eleven thirty seconds, the yield there one point four nine percent, and at two thirty two on Wall Street. Let's take a look at some of the other stories making news.
Thank you Charlie from the Bloomberg News room. My Raimi in a cent cio. Democratic presidential nominee Hillary Clinton is campaigning in Omaha, Nebraska today. Community activist Preston Love is among those looking forward to hearing her speak. Most important to me, as in havoc it from my beloved North Foma, is that she's visiting North Foma. Billionaire Warren Buffett will
be joining Clinton at the event. Alarming news from Florida, where health officials have discovered more cases of ZEKEA virus. Now Florida's governor is asking for help, as we learned from Amy Morris in the Bloomberg newsroom in Washington, Florida Governor Rick Scott asking for a federal emergency response team to help stop the spread of ZEKEA in Florida and the US. Scott says the number of cases in Florida is now fourteen, clustered in one square mile neighborhood in
Miami Dade County. For now, health officials believe the active transmissions are just in that area, and they believe these are the first people to contract the virus from mosquitoes at the US anymore. As Bloomberg radio, a storm system is gaining strengthen the Caribbean. Jamaica's Weather Service has issued an alert advising small vessels to return to shore in warning that flash flooding is likely across the island. The U S National Hurricane Center says a system could be
upgraded to tropical storm EARL sometime today. And Manhattan judge has reversed a two point seven million dollar civil judgment that said convicted child molester Jose Ramos killed six year old eighton Pace went missing in nineteen seventy nine. Another man, Pedro Hernandez, is charged with the murder. His first trial ended in a hung jury, partly because the civil judgment was used in his defense. Global News twenty four hours a day, powered by more than journalists and analysts in
more than one hundred twenty countries. I'm Ramy in Essensio. This is Bloomberg, Charlie, and we thank you and again recapping has some p lower down three points now to sixty nine and drop there of two tenths of one percent. I'm Charlie Palatine. Dat's a Bloomberg business flash. You're listening to taking stock with bim Box and Kathleen Hays on Bloombird Radio. Can't tell Medical Group of leading global company as a dedicad delivering innovative infection prevention products and services.
Quite a day to day for the company, a new CEO, an acquisition, and a share price it's moving higher. Maybe that's some applause for the man who's taking the helm of the company today. We're very happy to introduce. Now you're in Hansen. He is CEO of Cantel Medical Corp. A company that he has worked with now for some time, joining us in studio to talk about the company where he intends to take it next and in fact where he's taking it today. You're and welcome to the show.
Thank you, Kathleen. So, first of all, a little bit more about can Tell what you are and what you do. Can Tail is a company that is a completely dedicated to infiction prevention. Our business is driven by some of the major health issues in the world, including colorrectal cancer, diabetes, diabetes, obesity, and then the dental business. We have a range of products that goes into those areas and they all focused our own infection convention. I want to just mention that
the shares of Cantel Medical are about two percent. Perhaps investors happy about your latest acquisition of acute On tell us how this expands your business in the dental segment. Thank you, pim Uh In cancerl We are focused on delivering full solutions that help prevent infections in the spaces
that we operate within dental. The Acutron acquisition, which we are very excited about, adds another line of products single use nasal masks that are used in connection with conscious station and it's another product to our portfolio that it helps the dentists prevented fictions doing procedures. So your role now is CEO. Tell us a little bit about how you got into this field, How you got into this company, Where and when you see your company in industry heading,
what are the opportunities. I've been in the mid device business now for almost twenty years at various companies in eurb Asia and now the US. Cancer medical is in a in a great space. We are, as I mentioned, focused on on preventing infections and prevention is theme for the healthcare providers all over the world. To spend a dollar on prevention is much better than wait for an infection to happen. So we feel very confident about our markets and I see it by future for the future
for the company. You also have a segment that focuses on water purification and filtration. Tell us about that. A water purification of filtration business is mainly focused on hemodialysis water, so that is water used for hemodialysis. There's about six thousand five clinics in the US and about four and fifty procedures conducted a year, and we part take in about those procedures. So R and D Research and Development talked to us about that part of the business. What
kind of scientists How much do you invest? Because I would think if you want to be a leader, and you want to compete, you've always got to be improving there.
Absolutely we have. We have three three growth priorities for the company, new product development, market expansion supported by M and A. In terms of R and D, we have a fairly large direct R and D team based out of our campus in Minnesota, focusing in understanding needs for infection prevention in the hospital and in a dental area in NHEM analysis, and we have launched wide rains of
products over the last few years to supplement that. When we look at companies like for example, Equiton today, they bring new products to our back and opens up new opportunities for help fighting infections. We talk about fighting infections, A lot of that has to do with just disinfect and chemicals, right, tell us about that group and also tell us a little bit about how pernicious these kinds of infections can be. Yeah, we are. We are. Actually
both are developed on the manufacture of chemical disinfections. Our main product is parasitic acid that is used for cleaning scopes and has all kinds of beneficial properties. The main area that might be familiar to the general public is that there has been issues where cleaning cols or do a demo scopes over the last couple of years and with our solutions, our equipment and our chemistry combined, we can completely eradicate those issues. And that's one of the
reasons why the company is very, very busy today. Who's your biggest competition and where do you see the most potential for growth? United States, Asia, Europe. We have a very strong US market at the moment, driven by the aforementioned issues. Our main competitors are very different depending on what part of the world. In the US, it's mostly Olympus. The Olympics are manufacturer of scopes, but they also make
various products that goes into the g I suite. In Europe and Asia, the competition is is quite different depending on each market, so we feel we have a strong competitive position. We are focused to our business areas. We get up in the morning and think about fighting infections in all particular area and nobody if none of our competitors are really doing that, they're doing a lot a lot of other things. So thank you very much for
coming in and spending time with us. John Hanson, he is the president and the chief executive, can tell Medical Group. They're based in Little Falls, New Jersey. The symbol is c m N. The stock right now up a little bit more than two percent higher by a dollar thirty six at six thirty one. The shares are up nearly ten percent so far this year, and the dividend is
about two tenths of a percent. Thank you, Kathleen. You think that the growth in infectious disease prevention would also bolster the industry of Cantel Medical, And of course this is a situation where hospitals cannot skimp on these kinds of efforts. If you're listening to taking stock and this is Bloomberg to China, we go to look broadly at the economy, big slowdown. Looks like manufacturing continues to stumble. And did he buys a big, big chunk of uber? Who won? Who lost? This is Bloomberg