Steris buys surgical products maker Xodus Medical for $2.1 billion
STE•Steris said it will buy Xodus Medical for $2.1 billion, financing the transaction primarily with debt. Steris expects about $300 million in net present value of cash tax benefits, putting the net purchase price at about $1.8 billion.
1. Deal details
Steris said it will buy Xodus Medical for $2.1 billion, expanding its healthcare consumables portfolio with products designed to improve safety for patients and operating-room staff. The transaction is expected to be financed primarily with debt and is anticipated to close by December 31, 2026.
2. Financial expectations
Steris expects the deal to generate cash tax benefits with a net present value of about $300 million, resulting in a net purchase price of about $1.8 billion. Xodus Medical's 2026 annual revenue is anticipated to be about $245 million.
