STERIS to Acquire Xodus Medical for $2.1B to Expand Surgical Consumables Portfolio

Dublin, Ireland, October 12, 2026 (Steris) -- STERIS plc has signed a definitive agreement to acquire Xodus Medical, Inc., a Pennsylvania-based medical device company specializing in surgical products focused on patient and operating room staff safety, for $2.1 billion at closing. The transaction is expected to generate approximately $300 million in net present value cash tax benefits, bringing the effective net purchase price to approximately $1.8 billion, with additional potential earnout payments of up to $150 million tied to performance targets in 2028. Xodus Medical is projected to generate approximately $245 million in revenue and $135 million in adjusted EBIT in 2026. The acquisition will expand STERIS's healthcare consumables portfolio with products such as patient positioning systems and other surgical safety devices, and is expected to close by December 31, 2026, subject to regulatory approvals and customary closing conditions.

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