Steris has signed a definitive agreement to acquire Xodus Medical, a specialty surgical products business based in Pennsylvania, and certain related affiliates, for $2.1 billion at closing.
Founded in 1993, Xodus Medical is a developer and manufacturer of medical devices and proprietary surgical safety technologies, including its flagship Pink Pad patient positioning systems.
“Xodus Medical’s product portfolio complements and expands Steris's offering, particularly by adding consumables used in the operating room. Its focus on products that make surgery safer aligns closely with our mission to help our customers create a healthier and safer world,” said Steris CEO Dan Carestio in a statement. “The business has demonstrated an ability to grow at double-digit rates with its specialty product portfolio, a steady stream of new products, and a highly effective commercial team. We look forward to welcoming the Xodus Medical team to Steris and working together to enhance our service to our customers and value for our shareholders.”
“Xodus Medical is an established provider of solutions that measurably improve surgical patient safety,” said Xodus CEO Craig Kaforey in a statement. “Joining a global leader like Steris marks an exciting new chapter for our company and allows us to deliver even greater value to our customers. For our employees, this partnership opens incredible opportunities for professional growth and development across our entire organization.”
Under the terms of the agreement, Steris will acquire all the equity of Xodus Medical. The transaction is expected to be financed primarily with debt and is anticipated to close by December 31, 2026, subject to customary closing conditions and regulatory approvals. Steris said it will provide revised fiscal 2027 outlook inclusive of Xodus Medical after closing.
