Business
Sotera Health Chairman and CEO Presents at 41st Annual J.P. Morgan Healthcare Conference
CLEVELAND, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Sotera Health Company (“Sotera Health” or the “Company”) (Nasdaq: SHC), a leading global provider of
About this update from Sotera Health Company
[{"type":"text","content":"CLEVELAND, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Sotera Health Company (“Sotera Health” or the “Company”) (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry, today is presenting at the 41st Annual J.P. Morgan Healthcare Conference. During the presentation, Chairman and CEO Michael B. Petras, Jr. will be providing an update on Sotera Health’s business. “I am pleased to announce that Sotera Health delivered solid top-line growth in 2022,” said Mr. Petras. “We expect full-year revenues to fall within the previously communicated guidance range of $995 million to $1.005 billion. Despite a challenging macroeconomic environment, the team did a good job focusing on our core values to deliver these results. We look forward to reporting our fourth-quarter and full year 2022 financial results on February 28, 2023.” During the fourth quarter, to enhance liquidity in connection with litigation needs, the Company borrowed $200 million under its existing secured revolving credit facility, which was held as cash at year end 2022. Additionally, the Company is considering incremental debt financing in the first quarter of 2023 to further enhance liquidity, including to secure collateral needed for our appeal of the adverse judgment in the Illinois ethylene oxide litigation. This financing may include secured debt raised in the bank or capital markets, which may increase Company leverage above its long-term target net leverage range of 2.0x – 4.0x. Mr. Petras and Jason Peterson, Vice President and Treasurer, are participating in one-on-one meetings with investors during the conference. Interested stakeholders are invited to listen to the replay webcast, as well as view and download slides of Mr. Petras’ presentation, by accessing the link on the Sotera Health website under the Investor Relations section: https://investors.soterahealth.com/events-and-presentations. Forward-looking Statements This release contains forward-looking statements that reflect management’s expectations about future events and the Company’s operating plans and speak only as of the date hereof. You can identify these forward-looking statements by the use of forward-looking words such as “will,” “may,” “plan,” “estimate,” “expect,” “ “could,” or the negative version of t...