Mergers & Acquisitions ·
STERIS agrees to acquire Xodus Medical for $2.1 billion in cash plus up to $150 million in earnouts
STESTERIS plc
STERIS plc's wholly owned subsidiary entered into a Purchase and Sale Agreement to acquire all equity interests of Xodus Medical, Inc., a specialty surgical products business based in Pennsylvania, along with certain related affiliates. The acquisition price is $2.1 billion in cash at closing, subject to customary adjustments, with potential additional earnout consideration of up to $150 million contingent on specified post-closing performance targets in calendar 2028. STERIS secured a $2.0 billion senior unsecured bridge financing commitment from JPMorgan Chase Bank and Goldman Sachs Bank USA to fund the transaction. The deal is expected to close by December 31, 2026, subject to regulatory approvals and customary closing conditions. STERIS plc provides medical technology products and services for infection prevention and patient safety.