Recent Updates — STE

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.

STERIS plc reported fiscal 2027 first quarter revenue of $1.5 billion, a 7% increase from the prior year period, with constant currency organic growth of 6%. Diluted EPS rose to $2.04, while adjusted diluted EPS reached $2.59. The company announced a restructuring plan to consolidate formulated chemistries manufacturing and distribution into a new Center of Excellence in North Carolina, involving closures in St. Louis, Missouri, and Plymouth, Minnesota. STERIS expects pre-tax restructuring charges between $55 million and $70 million, including $40 million to $50 million in cash expenditures, with completion targeted for fiscal 2030. The firm reiterated its full-year revenue growth guidance of 7-8% and adjusted EPS range of $11.10 to $11.30, while raising capital expenditure expectations to approximately $450 million from $375 million due to the new facility investment. STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention.