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Latham & Watkins Advises Stericycle in Completed Divestiture of Communications Solutions Business to Carenet Health

December 2, 2022
A multidisciplinary deal team led from Chicago represented the Nasdaq-listed provider of regulated medical waste management and secure information destruction solutions. 

Stericycle, Inc. (Nasdaq: SRCL), a leading provider of regulated medical waste management and secure information destruction solutions, has announced that it has completed the divestiture of its Communication Solutions business to Carenet Health, one of the healthcare industry’s leading consumer engagement and telehealth partners, for approximately US$45 million in cash, subject to customary adjustments. Stericycle intends to use the net proceeds from the divestiture to pay down outstanding debt.

Latham & Watkins LLP represented Stericycle in the transaction with a corporate deal team led by Chicago partners Bradley Faris and Max Schleusener, with associates Megan Staub, Valentina Oliver, and Leah Beukelman. Advice was also provided on tax matters by Chicago partner Diana Doyle, with associates Michael Zucker and Joe Gu; on benefits and compensation matters by New York partner Bradd Williamson, with associate Max Raskin; on intellectual property matters by New York partner Jeffrey Tochner, with associate Sabastian Moss; on data privacy matters by Bay Area partners Heather Deixler and Robert Blamires, with associate Adriana Beach; on environmental matters by Chicago partner Karl Karg; and on insurance matters by associate Hannah Cary.