STERIS to Acquire Xodus Medical for $2.1 Billion in Cash

STERIS, through wholly owned subsidiary STERIS Corporation, agreed to acquire all equity interests in Pennsylvania-based specialty surgical products company Xodus Medical and related affiliates from the Kaforey sellers for $2.1 billion in cash, subject to customary adjustments, plus potential earnout payments of up to $150 million based on 2028 performance. The deal is expected to close by December 31, 2026, pending regulatory approvals and other conditions, and will be financed primarily with debt, including a committed $2.0 billion senior unsecured bridge facility from JPMorgan Chase and Goldman Sachs.