Mitt Romney invested in Stericycle, a massive medical waste disposal service company that disposes medical waste from Planned Parenthood and abortion clinics — waste that includes aborted fetuses — and attracts the ire of the pro-life community and establishment Republicans. The company received a $75 million investment from Bain Capital in 1999 which led to its emergence as a leader in the industry. Today, Stericylce has more than 485,000 customers worldwide. Its clients include hospitals, blood banks, and pharmaceutical manufacturers.
Romney had denied any wrongdoing, stating he left Bain Capital in early 1999 before their investment in Stericycle. However, according to Mother Jones:
“documents filed by Bain and Stericycle with the Securities and Exchange Commission—and obtained by Mother Jones—list Romney as an active participant in the investment. And this deal helped Stericycle, a company with a poor safety record, grow, while yielding tens of millions of dollars in profits for Romney and his partners. The documents—one of which was signed by Romney—also contradict the official account of Romney’s exit from Bain.”
They go on to note that one SEC filing
lists assorted Bain-related entities that were part of the deal, including Bain Capital (BCI), Bain Capital Partners VI (BCP VI), Sankaty High Yield Asset Investors (a Bermuda-based Bain affiliate), and Brookside Capital Investors (a Bain offshoot). And it notes that Romney was the ‘sole shareholder, Chairman, Chief Executive Officer and President of BCI, BCP VI Inc., Brookside Inc. and Sankaty Ltd.’
The document also states that Romney ‘may be deemed to share voting and dispositive power with respect to’ 2,116,588 shares of common stock in Stericycle ‘in his capacity as sole shareholder’ of the Bain entities that invested in the company. That was about 11 percent of the outstanding shares of common stock.”
The Young Turks have a video on the whole matter you can watch below.