Dive Brief:
- Stericycle, Inc, a company that specializes in the collection and disposal of medical and pharmaceutical waste, announced its financials from the third quarter of 2014. Gross profit was $278.7 million, up 15.4% from $241.4 million in Q3 2013.
- The Lake Forest, IL-based company’s revenue grew to $667.9 million in the third quarter, up 24.9%.
- Net income was $82.8 million, or $0.96 cents per share in Q3 compared with $80.5 million, or $0.92 cents per share in the same time period one year ago.
Dive Insight:
Stericycle cites an increasing number of patients, regulatory compliance, and rising numbers of infections at hospitals as contributing factors resulting in growth within the company.
The firm also completed 16 acquisitions within the third quarter, adding to the company’s increased sales figures and largely driving its positive Q3 results.