STERIS plc (STE) Form 8-K — Oct 13, 2026
STERIS plc, through subsidiary STERIS Corporation, signed a Purchase and Sale Agreement on October 11, 2026 to acquire Xodus Medical, a Pennsylvania-based specialty surgical products business, for $2.1 billion in cash, plus up to $150 million in earnout tied to 2028 performance. The deal will be financed primarily with debt, backed by a $2.0 billion senior unsecured bridge facility commitment from JPMorgan and Goldman Sachs, and is expected to close by December 31, 2026 subject to regulatory approvals.
Key figures
- Debt Amount
- 2000000000
- Deal Value Usd
- 2100000000
- Earnout Up To
- 150000000
- Outside Date
- July 12, 2027 (extendable to January 11, 2028)
- Earnout Period
- calendar 2028 performance targets
- Expected Close
- by December 31, 2026
AI analysis
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