Ecolab Inc. has recently closed the sale of its global surgical solutions business to Medline, resulting in total consideration of approximately $950 million in cash. With a strengthened balance sheet, Ecolab is now in a position to invest in promising growth opportunities and return capital to its shareholders. As a part of this strategic move, the company has announced its intent to repurchase up to an additional $500 million of Ecolab stock in the second half of 2024.

While the sale has reshaped its portfolio, Ecolab remains committed to serving hospitals through its infection prevention and instrument reprocessing businesses. The infection prevention segment focuses on environmental hygiene programs to reduce hospital-acquired infections, while instrument reprocessing offers cleaning and sterilization solutions for instruments, adding value to Ecolab’s existing growth strategy.

The plan to repurchase shares involves various methods, including open market transactions, privately negotiated deals, and purchases compliant with Rule 10b5-1 of the Securities Exchange Act of 1934. With approximately 285 million shares outstanding as of June 30, 2024, the anticipated repurchases align with the share repurchase authorizations previously granted by Ecolab’s Board of Directors in February 2015 and November 2022.

About Ecolab

As a trusted leader in sustainability solutions, Ecolab (NYSE: ECL) is dedicated to providing water, hygiene, and infection prevention services to safeguard people and essential resources. With a legacy of innovation spanning a century, Ecolab operates in over 170 countries, serving customers in various sectors, including food, healthcare, hospitality, and beyond. The company’s science-based solutions and exceptional service emphasize food safety, environmental cleanliness, and resource optimization. Learn more at www.ecolab.com

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Cautionary Statements Regarding Forward-Looking Information

This news release may contain forward-looking statements concerning the company’s cash usage, including share repurchases and investments. Actual results may differ due to various factors, including market conditions and company cashflows. Refer to Ecolab’s SEC filings for additional risks and uncertainties.