A Medical Device Daily
Stericycle (Lake Forest, Illinois), a medical waste disposal company, reported receiving interim findings of an arbitrator before whom its dispute with SteriCorp (Melbourne, Australia) is being heard.
Stericycle said that interim decision found in its favor on its claim against SteriCorp for payments due under certain convertible notes, and if found in favor of SteriCorp on its claims that Stericycle failed to supply it with equipment conforming to specifications under an equipment supply agreement and in connection with a dispute over the capacity of the equipment that was supplied, the company said.
The arbitrator’s findings are not final, however. Stericycle said it believes that, based on the findings, it may be required to pay an amount to SteriCorp that will not be material and which has not been included in the guidance that it has previously given.
The company said a final award is anticipated during the next two to three months.