STERIS said its wholly owned subsidiary, STERIS Corporation, entered into a Purchase and Sale Agreement on October 11, 2026 to acquire all equity interests in Xodus Medical, Inc., a Pennsylvania-based specialty surgical products business, and certain related affiliates.

1. 01

   STERIS said its wholly owned subsidiary, STERIS Corporation, entered into a Purchase and Sale Agreement on October 11, 2026 to acquire all equity interests in Xodus Medical, Inc., a Pennsylvania-based specialty surgical products business, and certain related affiliates.

2. 02

   The company said it will pay $2.1 billion in cash at closing for Xodus, subject to customary adjustments, and that an earnout of up to $150 million is available if Xodus meets specified post-closing performance targets in calendar 2028.

3. 03

   The company said the acquisition is expected to be financed primarily with debt and to close by December 31, 2026, subject to customary closing conditions and regulatory approvals. Either party may terminate the agreement if the deal has not closed by July 12, 2027, which can be extended to January 11, 2028 under certain circumstances.

4. 04

   The company said JPMorgan Chase Bank, N.A. and Goldman Sachs Bank USA committed on October 11, 2026 to provide a senior unsecured bridge facility of up to $2.0 billion. The commitment amount can be reduced dollar-for-dollar based on the net proceeds from permanent financing or asset sales.

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