STERIS Expands Healthcare Consumables Offering with Definitive Agreement to Acquire Xodus Medical, a Specialty Surgical Products Business Focused on Patient and OR Staff Safety

STERIS signed a definitive agreement to acquire Xodus Medical, a specialty surgical products maker, for $2.1 billion at closing, expected to close by December 31, 2026. Cash tax benefits with an NPV of roughly $300 million reduce the net purchase price to about $1.8 billion, with up to $150 million in earnout tied to 2028 performance targets. Xodus is expected to deliver about $245 million of 2026 revenue and $135 million of adjusted EBIT, and the deal is anticipated to be accretive to top-line growth, margins, and adjusted earnings.

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