STERIS plc (NYSE: STE) ("STERIS" or the "Company") today announced that STERIS Corporation, a wholly owned subsidiary of the Company, has signed a definitive agreement to acquire Xodus Medical, Inc., a specialty surgical products business based in Pennsylvania, and certain related affiliates ("Xodus Medical"), for $2.1 billion at closing. STERIS anticipates that the transaction will generate cash tax benefits with a net present value of approximately $300 million, resulting in a net purchase price of approximately $1.8 billion. The purchase price is subject to customary adjustments, with additional potential earnout consideration of up to $150 million based on the achievement of specified post-closing performance targets in calendar 2028. Annual revenue of Xodus Medical in calendar 2026 is anticipated to be approximately $245 million, with adjusted EBIT of approximately $135 million.

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