Waste Management Inc.’s (WM) subsidiary, WM Healthcare Solutions and Becton, Dickinson and Company (BDX) have entered into an agreement to recycle medical sharps waste from hospitals and other health care facilities. The companies are jointly launching the BD ecoFinity Life Cycle Solution – an innovative service that will recycle medical sharps waste to manufacture new products.
Becton, Dickinson is a medical technology company that serves health care institutions, life science researchers, clinical laboratories, industry and the general public. The company manufactures and sells a broad range of medical supplies, devices, laboratory equipment and diagnostic products.
Waste Management will collect and process the materials from Becton, Dickinsons’ network of health care customers and then give them back to the latter for the manufacturing of new products. The program will help health care facilities reduce the materials that go into disposal, increase the use of recycled materials in new products, and manufacture products in a more sustainable manner.
Becton, Dickinson believes that more than 70% of its overall sharps waste may be recovered and recycled rather than be permanently disposed off in landfills as is the practice now. This agreement with Becton, Dickinson showcases Waste Management’s expertise in comprehensive waste services, in particular the areas of recycling, landfill, waste-to-energy and consulting services.
The alliance will also help Waste Management meet its sustainability goals – nearly tripling the amount of recyclables it processes by 2020 – and investing in emerging technologies for managing waste.
We currently have a Zacks #3 Rank (short-term Hold recommendation) on the Waste Management stock.
Houston, Texas-based Waste Management is the largest provider of comprehensive waste management services in North America. The company provides collection, transfer, recycling and resource recovery, and disposal services to nearly 20 million residential, commercial, industrial and municipal customers.
The company is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the U.S. Waste Management competes with Casella Waste Systems Inc. (CWST), Republic Services Inc. (RSG) and privately held Safety-Kleen Inc.
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