STERIS (STE): Agrees to buy surgical products maker Xodus Medical for $2.1 billion
STERIS agreed to buy surgical products maker Xodus Medical for $2.1B at closing, about $1.8B net of an expected $300M tax benefit, plus up to $150M of earnout. Xodus is guided to ~$245M 2026 revenue. Debt-funded; close targeted by year-end.
Why it matters The deal adds operating-room consumables, including Xodus's patient positioning products, to STERIS's portfolio. It is funded mainly with debt and still needs regulatory approval.
What we verified BiopharmaWatch and FINCHANNEL, both relaying STERIS's Oct 12 release, give $2.1B at closing, ~$1.8B net of ~$300M tax benefits, up to $150M of 2028-linked earnout, ~$245M 2026 revenue and a close by Dec 31. Investing.com confirms the deal but not the terms. Revenue and tax figures are company projections.
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