Sotera Health Finalizes Settlement of Ethylene Oxide Litigation in Illinois
22 6월 2023 - 9:20PM
Sotera Health Company (“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 announced that the opt-in process for the January
2023 settlements of ethylene oxide claims against Sterigenics in
the Circuit Court of Cook County, Illinois is complete and
Sterigenics has elected to proceed with the settlements.
879 of the 882 claimants eligible to participate in the
settlement program have opted in. The settling claimants and
Sterigenics will now request that the Circuit Court enter an order
confirming that these are good-faith settlements under the Illinois
Contribution Among Joint Tortfeasors Act. The settlement funds will
be released from escrow for disbursement to the settling claimants
ten days after the Court enters the anticipated good-faith
determination and their claims against Sterigenics will
subsequently be dismissed with prejudice. The lawsuits of the three
claimants who opted out of the settlement will proceed to pretrial
discovery pursuant to a schedule to be set by the Circuit
Court.
The Company issued the following statement regarding the
settlement agreement:
“We are pleased that 99.7 percent of the eligible claimants are
participating in the settlements. The agreements explicitly state
that the settlements are not to be construed as an admission of
liability, and Sterigenics maintains that its Willowbrook
operations did not pose a safety risk to the surrounding community.
As we have done throughout our history, we will continue to operate
all our facilities in compliance with applicable rules and
regulations and best industry practices to ensure the safety of our
employees, the communities in which we operate and patients around
the world.”
The Company will not incur any additional charges in association
with the completion of the settlement beyond those previously
incurred in the fourth quarter of 2022.
For additional information on the settlement agreements and
ethylene oxide lawsuits, please refer to the Company’s Form 8-K
disclosing the settlement terms, the Company’s other SEC filings
and its website.
Forward-Looking Statements This release
contains forward-looking statements that reflect management’s
expectations about future events 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,” “expect,” “may,”
“post-trial,” “appeal,” “believe,” “continue,” or other comparable
words. Any forward-looking statements contained in this release are
based upon current plans, estimates and expectations in light of
information currently available to us. The inclusion of this
forward-looking information should not be regarded as a
representation by us that the future plans, estimates or
expectations contemplated by us will be achieved. These
forward-looking statements are subject to various risks,
uncertainties and assumptions including, without limitation,
changes in environmental, health and safety regulations;
satisfaction of conditions to completing the settlement, including
the entry of an order by the Circuit Court of Cook County
confirming that the settlements of the EO cases pending against
Sterigenics were entered into in good faith pursuant to the
Illinois Contribution Among Joint Tortfeasors Act; the impact of,
and developments in, current and future legal proceedings and
liability claims related to purported exposure to emissions of EO
from Sterigenics’ facilities, including claims not encompassed by
the settlement that are presently pending against Sterigenics and
related co-defendants in Illinois, Georgia and New Mexico; capital
market and other risks to our ability to raise additional debt
financing on reasonable terms or at all, including availability of
capital and the impact of future litigation developments on our
ability to access capital markets; and the possibility that other
claims will be made in the future, including in Illinois. For
additional discussion of these risks and uncertainties, please
refer to Company’s filings with the SEC, such as its annual and
quarterly reports, as well as the Current Report on Form 8-K filed
by the Company on January 9, 2023, with the SEC disclosing the
terms of the settlement. We do not undertake any obligation to
publicly update or revise these forward-looking statements, except
as otherwise required by law.
About Sterigenics Sterigenics® is a leading
global provider of outsourced terminal sterilization and
irradiation services for the medical device, pharmaceutical, food
safety and advanced applications markets. With our industry
recognized scientific and technological expertise we help to ensure
the safety of millions of patients and healthcare practitioners
around the world every year. Across our 48 facilities worldwide, we
offer our customers a complete range of outsourced terminal
sterilization services, primarily using the three major
sterilization technologies: gamma irradiation, ethylene oxide
processing and electron beam irradiation. We are committed to
addressing the growing need for sterilization in many parts of the
world and partnering with our customers to eliminate threats to
human health. Learn more about Sterigenics at
https://sterigenics.com/. Safeguarding Global Health® - with every
product we sterilize.
About Sotera Health Sotera Health Company is a
leading global provider of mission-critical end-to-end
sterilization solutions and lab testing and advisory services for
the healthcare industry. Sotera Health goes to market through three
businesses – Sterigenics®, Nordion® and Nelson Labs®. Sotera Health
is committed to its mission, Safeguarding Global Health®.
INVESTOR RELATIONS CONTACTS |
|
Jason Peterson |
Sally J. Curley, IRC |
Vice President & Treasurer, Sotera Health |
Curley Global IR, LLC |
IR@soterahealth.com |
IR@soterahealth.com |
|
|
MEDIA CONTACT |
|
Kristin Gibbs |
|
Chief Marketing Officer, Sotera Health |
|
kgibbs@soterahealth.com |
|
Source: Sotera Health Company
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