STERIS Acquires Surgical Products Business Xodus Medical
News related to:STERIS plc · 4 min read
DUBLIN, IRELAND, Oct. 12, 2026 /CourierPR/ -- STERIS plc, a leading global provider of products and services that support patient care with an emphasis on infection prevention, has announced a significant acquisition that will expand its healthcare consumables offering. The company has signed a definitive agreement to acquire Xodus Medical, Inc., a specialty surgical products business based in Pennsylvania, and certain related affiliates for $2.1 billion at closing. The transaction is expected to be financed primarily with debt and is anticipated to close by December 31, 2026, subject to customary closing conditions and regulatory approvals.
The acquisition of Xodus Medical will complement and extend STERIS’s existing product portfolio, particularly by adding consumables used in the operating room. Xodus Medical’s focus on products that make surgery safer aligns closely with STERIS’s mission to help its customers create a healthier and safer world. 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.
The acquisition is expected to 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.
Xodus Medical was founded in 1993 and headquartered near Pittsburgh, Pennsylvania. The company’s comprehensive portfolio of proprietary surgical safety technologies, including its flagship Pink Pad patient positioning systems, serves hospitals worldwide. Xodus Medical has established itself as a trusted partner to healthcare professionals and a recognized leader in perioperative patient safety.
Under the terms of the agreement, STERIS Corporation will acquire all the equity of Xodus Medical. The transaction is expected to be financed primarily with debt and is anticipated to close by December 31, 2026, subject to customary closing conditions and regulatory approvals. STERIS will provide revised fiscal 2027 outlook inclusive of Xodus Medical after closing.
The acquisition of Xodus Medical is expected to be accretive to top-line growth, margins, and adjusted earnings. The transaction is expected to close by December 31, 2026, and will be financed primarily with debt. The acquisition is expected to 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.
Xodus Medical’s product portfolio will provide revised fiscal 2027 outlook inclusive of Xodus Medical after closing. The acquisition is expected to be accretive to top-line growth, margins, and adjusted earnings. The transaction is expected to close by December 31, 2026, and will be financed primarily with debt. The acquisition is expected to 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.
Xodus Medical’s product portfolio will provide revised fiscal 2027 outlook inclusive of Xodus Medical after closing. The acquisition is expected to be accretive to top-line growth, margins, and adjusted earnings. The transaction is expected to close by December 31, 2026, and will be financed primarily with debt. The acquisition is expected to 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.
Xodus Medical’s product portfolio will provide revised fiscal 2027 outlook inclusive of Xodus Medical after closing. The acquisition is expected to be accretive to top-line growth, margins, and adjusted earnings. The transaction is expected to close by December 31, 2026, and will be financed primarily with debt. The acquisition is expected to 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.
Xodus Medical’s product portfolio will provide revised fiscal 2027 outlook inclusive of Xodus Medical after closing.