Steris agrees $2.1 billion Xodus Medical acquisition

• Steris (NYSE:STE) agreed to acquire Xodus Medical for $2.1 billion, expanding its healthcare consumables portfolio with operating-room safety products.
• The transaction is expected to have a net purchase price of approximately $1.8 billion after estimated cash tax benefits with a net present value of $300 million.
• Steris said the acquisition will add Xodus Medical’s product portfolio and an anticipated 2026 revenue base of approximately $245 million.

Steris (NYSE:STE) announced an agreement to acquire Xodus Medical, a Pennsylvania-based medical equipment company, in a transaction valued at $2.1 billion.

The acquisition will be financed primarily with debt and is expected to close by December 31, 2026, subject to customary closing conditions..

Steris said the transaction is expected to generate cash tax benefits with a net present value of approximately $300 million, reducing the effective net purchase price to about $1.8 billion.

Xodus Medical’s 2026 annual revenue is expected to be approximately $245 million, according to Steris, with the acquisition adding products designed to improve safety for patients and operating-room staff.

Steris provides medical and life science products and services, including sterilization systems, surgical equipment, and healthcare consumables used by hospitals and other healthcare providers.