STERIS Expands Healthcare Consumables Offering with Definitive Agreement to Acquire Xodus Medical, a Specialty Surgical Products Business Focused on Patient and OR Staff Safety
Key Highlights
- ➤STERIS agrees to acquire Xodus Medical for $2.1 billion at closing
- ➤$300 million estimated cash-tax benefits reduce net purchase price to approximately $1.8 billion
- ➤Xodus Medical projects 2026 revenue of approximately $245 million
- ➤Xodus Medical projects 2026 adjusted EBIT of approximately $135 million
- ➤Transaction expected to close by December 31, 2026, pending approvals
Expert Statements
Dan Carestio, President and Chief Executive Officer of STERIS
“Xodus Medical’s product portfolio complements and expands STERIS’s offering, particularly by adding consumables used in the operating room. Its focus on products that make surgery safer aligns closely with our MISSION TO HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD”
Dan Carestio, President and Chief Executive Officer of STERIS
“The business has demonstrated an ability to grow at double-digit rates with its specialty product portfolio, a steady stream of new products, and a highly effective commercial team. We look forward to welcoming the Xodus Medical team to STERIS and working together to enhance our service to our Customers and value for our shareholders.”
Craig Kaforey, Chief Executive Officer of Xodus Medical
“Xodus Medical is an established provider of solutions that measurably improve surgical patient safety”
Craig Kaforey, Chief Executive Officer of Xodus Medical
“Joining a global leader like STERIS marks an exciting new chapter for our company and allows us to deliver even greater value to our Customers. For our employees, this partnership opens incredible opportunities for professional growth and development across our entire organization.”
* Consumable product portfolio a natural extension for STERIS’s Healthcare Customers * Compelling financial benefits: expected to be accretive to top-line growth, margins and adjusted earnings * Anticipated to close by December 31, 2026 DUBLIN, IRELAND, Oct. 12, 2026 (GLOBE NEWSWIRE) -- STERIS plc (NYSE: STE) (“STERIS” or the “Company”) today announced that STERIS Corporation, a wholly owned subsidiary of the Company, has signed a definitive agreement to acquire Xodus Medical, Inc., a specialty surgical products business based in Pennsylvania, and certain related affiliates (“Xodus Medical”), for $2.1 billion at closing. STERIS anticipates that the transaction will generate cash tax benefits with a net present value of approximately $300 million, resulting in a net purchase price of approximately $1.8 billion. The purchase price is subject to customary adjustments, with additional potential earnout consideration of up to $150 million based on the achievement of specified post-closing performance targets in calendar 2028. Annual revenue of Xodus Medical in calendar 2026 is anticipated to be approximately $245 million, with adjusted EBIT of approximately $135 million.
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