About Stericycle

Stericycle, Inc. operates as a business-to-business services company. The company provides compliance-based solutions that protect people and brands, promote health and well-being and safeguard the environment. Through its family of brands, the company serves customers in North America and Europe with solutions to safely manage materials that could otherwise spread disease, contaminate the environment, or compromise one’s identity. Segments The company operates through North America and International segments. The North America and International segments offer the following services: RWCS, which provide collection and processing of biohazardous waste, including regulated and specialized waste, sharps waste management and disposal, pharmaceutical waste management and disposal, chemotherapy waste and disposal controlled substance waste and disposal, healthcare hazardous waste, and integrated waste stream solutions (under the Integrated Waste Stream Solutions, Steri-Safe, MedDrop Medication Collection Kiosks, Safe Community Solutions, SafeDrop Sharps Mailback Solutions, and Airport and Maritime Waste Services brand names) and SID Services, which provide for the secure information destruction and compliance solutions (including document, hard drive, and specialty destruction services) under the Shred-it brand name, which includes regular scheduled services (and processing onsite and offsite) and one-time services (including select, priority and express). Services Within its operating segments, the company’s revenues are further broken down into these service categories: Regulated Waste and Compliance Services Biohazardous Waste Disposal (including Regulated Medical Waste, Sharps Waste Management and Disposal, Pharmaceutical Waste Management and Disposal, Chemotherapy Waste and Disposal, Controlled Substance Waste Disposal, Healthcare Hazardous Waste, and Integrated Waste Stream Solutions). Compliance Solutions (including Steri-Safe Compliance Solutions). Specialty Services (including MedDrop Medication Collection Kiosks, Safe Community Solutions, SafeDropTM Sharps Mailback Solutions, and Airport and Maritime Waste Services). Medical Supply Store (including Sharps and disposable Biohazardous Waste Containers, Infection Control Supplies and Seal&Send Medication Mail Back). Secure Information Destruction Services Secure information destruction and compliance solutions (including document, hard drive, and specialty destruction services) under the Shred-it brand name which includes regular scheduled services (and processing onsite and offsite) and one-time services (including select, priority and express). Portfolio Optimization The company evaluates its portfolio of services on an ongoing basis with a country-by-country and service line-by-service line approach to assess long-term potential and identify potential business candidates for divestiture. During 2023, the company divested eight businesses, demonstrating significant progress in executing its portfolio optimization priority. These divestitures included an International container manufacturer joint venture, its businesses in Brazil, Singapore, Australia, and Republic of Korea, dental recycling business in the Netherlands, SID joint venture in the UAE, and its business in Romania. Customers The company’s service offerings appeal to a wide range of business customers. The company’s customers are primarily in the following industries: enterprise healthcare (i.e., hospitals, health systems, and non-affiliate hospitals; and national and corporate healthcare), practices and care providers (i.e., physician offices, surgery centers, veterinary clinics, nursing and long-term care facilities, dental clinics, clinics and urgent care, dialysis centers, and home health organizations), and pharmacy, lab and research centers. The company also provides services to airports and seaports, education institutions, funeral homes and crematories, government and military, banks and professional services, and other businesses. While it manages large volumes of waste and other materials, the average volume per customer site is relatively small. The company has developed a strong and loyal customer base, with an estimated revenue retention rate of approximately 90% (based on its internal customer attrition analysis) and has been able to leverage these customer relationships to provide additional services. As of December 31, 2023, Regulated Waste and Compliance Services are provided to customers in the U.S., Canada, Ireland, Portugal, Spain and the U.K. Secure Information Destruction Services under the Shred-it brand are provided in the U.S., Belgium, Canada, France, Germany, Ireland, Luxembourg, the Netherlands, Portugal, Spain, and the U.K. The company’s International RWCS operations generate most of their revenues from large account customers, such as hospitals, publicly funded healthcare organizations and National Trusts versus smaller customers which tend to be more profitable. Facilities and Fleet The company’s worldwide network includes a global fleet of approximately 5,200 route trucks, tractors, collection vans, and small duty vehicles. The company operates out of approximately 396 facilities worldwide with properties both leased and owned. Patents, Trademarks and Proprietary Rights The company holds a number of patents or applications in the U.S., Canada, the U.K., and Europe for technologies related to its business, including its patented innovation, SMS Revolution, which modernizes its processing of sharps, and innovations for the recovery of reusable medical devices in a sharps container, various waste container assemblies, a lockable mounting bracket for use with a waste container assembly, and a three-stage shredder. The company owns federal registrations for a number of trademarks/service marks, including Stericycle, Shred-it, We Protect What Matters, SafeShield, Steri-Safe, SafeDrop, Artech, Community Shred-it, Making Sure it’s Secure, Virtual Compliance Partner, the Stericycle logo service mark consisting of a nine-circle design and the Shred-it logo. The company also holds international registrations for Stericycle and the Stericycle and Shred-it logos, among others. Regulation Various international laws and regulations related to data privacy and the protection of confidential information apply to the company’s RWCS and SID services, including the Health Insurance Portability and Accountability Act and the CCPA in the U.S. and the Global Data Protection Regulation in Europe. In addition, international regulations governing ethical business practices apply to the company’s business, including but not limited to, the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, and the Brazilian Clean Companies Act. The principal environmental laws that govern the company’s operations in the U.S. are the federal Clean Air Act and Clean Water Act, in addition to state laws and regulations governing regulated waste. Examples of environmental laws applicable to the company’s international operations include the Waste Framework Directive, Environmental Liabilities Directive, Industrial Emissions Directive and the Shipments of Waste Regulations in the EU, and the Canadian Environmental Protection Act and related regulations in Canada. The primary U.S. federal laws relating to employee health and welfare applicable to the company’s business are overseen by OSHA, which establishes specific employer responsibilities, including implementing engineering controls, administrative controls, training, policies and programs to comply with the regulations, and recordkeeping and reporting, all to ensure a safe workplace. Various OSHA standards apply to almost all aspects of the company’s operations and govern such matters as exposure to bloodborne pathogens, hazard communication, and PPE. Examples of employee health and welfare laws applicable to the company’s international operations include the European Framework Directive on Safety and Health at Work (Directive 89/391 EEC) and various provisions of the Canada Labour Code and related occupational safety and health regulations in the provinces and territories of Canada. Examples of transportation laws applicable to the company’s international operations include the Directive on the Inland Transportation of Dangerous Goods in the EU, and the Transport of Dangerous Goods Act, and related regulations in Canada, and globally the International Maritime Dangerous Goods Code, and the IATA Dangerous Goods Regulations. The company’s service offerings for the collection, treatment, and disposal of controlled substance waste, from both the healthcare industry and individual consumers, are subject to numerous laws and regulations governed by various regulatory agencies, including the U.S. Drug Enforcement Administration (DEA). Regulated garbage (sometimes referred to as ‘APHIS waste’ taken from the Animal Plant and Health Inspection Service) is another area of regulatory requirements that the company is subject to pursuant to regulations promulgated by the United States Department of Agriculture (USDA) and the U.S. Custom and Border Protection. The USDA typically inspects the company’s facilities receiving Regulated Garbage waste on a quarterly basis. History Stericycle, Inc. was founded in 1989. The company was incorporated in 1989.