{"success":true,"data":{"pressRelease":{"id":"166286","rtpr_id":"nGNX3mv18p-20261012","ticker":"STE","exchange":"NYSE","all_tickers":["STE"],"title":"STERIS Expands Healthcare Consumables Offering with Definitive Agreement to Acquire  Xodus Medical, a Specialty Surgical Products Business Focused on Patient and OR Staff Safety","author":"Globe Newswire","published_at":"2026-10-12T12:00:00.236Z","article_body":"* Consumable product portfolio a natural extension for STERIS’s Healthcare\nCustomers\n* Compelling financial benefits: expected to be accretive to top-line growth,\nmargins and adjusted earnings \n* Anticipated to close by December 31, 2026\nDUBLIN, IRELAND, Oct. 12, 2026 (GLOBE NEWSWIRE) -- STERIS plc (NYSE: STE)\n(“STERIS” or the “Company”) today announced that STERIS Corporation, a\nwholly owned subsidiary of the Company, has signed a definitive agreement to\nacquire Xodus Medical, Inc., a specialty surgical products business based in\nPennsylvania, and certain related affiliates (“Xodus Medical”), for $2.1\nbillion at closing. STERIS anticipates that the transaction will generate cash\ntax benefits with a net present value of approximately $300 million, resulting\nin a net purchase price of approximately $1.8 billion. The purchase price is\nsubject to customary adjustments, with additional potential earnout\nconsideration of up to $150 million based on the achievement of specified\npost-closing performance targets in calendar 2028. Annual revenue of Xodus\nMedical in calendar 2026 is anticipated to be approximately $245 million, with\nadjusted EBIT of approximately $135 million.\n\n“Xodus Medical’s product portfolio complements and expands STERIS’s\noffering, particularly by adding consumables used in the operating room. Its\nfocus on products that make surgery safer aligns closely with our MISSION TO\nHELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD,” said Dan Carestio,\nPresident and Chief Executive Officer of STERIS. “The business has\ndemonstrated an ability to grow at double-digit rates with its specialty\nproduct portfolio, a steady stream of new products, and a highly effective\ncommercial team. We look forward to welcoming the Xodus Medical team to STERIS\nand working together to enhance our service to our Customers and value for our\nshareholders.”\n\n“Xodus Medical is an established provider of solutions that measurably\nimprove surgical patient safety,” said Craig Kaforey, Chief Executive\nOfficer of Xodus Medical. “Joining a global leader like STERIS marks an\nexciting new chapter for our company and allows us to deliver even greater\nvalue to our Customers. For our employees, this partnership opens incredible\nopportunities for professional growth and development across our entire\norganization.”\n\nUnder the terms of the agreement, STERIS Corporation will acquire all the\nequity of Xodus Medical. The transaction is expected to be financed primarily\nwith debt and is anticipated to close by December 31, 2026, subject to\ncustomary closing conditions and regulatory approvals. STERIS will provide\nrevised fiscal 2027 outlook inclusive of Xodus Medical after closing.\n\nAdvisors\n\nGoldman Sachs & Co. LLC is serving as exclusive financial advisor to STERIS,\nand Jones Day is serving as legal counsel. J.P. Morgan is serving as exclusive\nfinancial advisor to Xodus Medical, and Morgan, Lewis & Bockius LLP is serving\nas legal counsel.\n\nAbout STERIS\n\nSTERIS is a leading global provider of products and services that support\npatient care with an emphasis on infection prevention. WE HELP OUR CUSTOMERS\nCREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare and life\nscience products and services around the globe. For more information, visit\nwww.steris.com.\n\nAbout Xodus Medical\n\nFounded in 1993 and headquartered near Pittsburgh, Pennsylvania, Xodus Medical\nis a leading developer and manufacturer of innovative medical devices\ndedicated to Making Surgery Safer™. The company's comprehensive portfolio of\nproprietary surgical safety technologies, including its flagship Pink Pad®\npatient positioning systems, serves hospitals worldwide. Xodus Medical has\nestablished itself as a trusted partner to healthcare professionals and a\nrecognized leader in perioperative patient safety. For more information, visit\nwww.xodusmedical.com.\n\nSTERIS Contact\n\nJulie Winter, Vice President Investor Relations and Corporate Communications\n\njulie_winter@steris.com\n\nNon-GAAP Financial Measures\n\nProjected Xodus Medical Adjusted EBIT is a non-GAAP financial measure and\nshould not be considered a substitute for results prepared in accordance with\nU.S. GAAP. The Company presents this measure to provide investors with\nadditional insight into the financial information used by management and the\nBoard of Directors in evaluating the acquisition of Xodus Medical.\n\nAs used in this release, Xodus Medical Adjusted EBIT represents Xodus\nMedical’s projected operating income of $121 million for the full calendar\nyear ending December 31, 2026, adjusted for approximately $14 million of\ncharges substantially consisting of a royalty arrangement that was terminated\nduring 2026.\n\nProjected Xodus Medical Adjusted EBIT is a forward-looking non-GAAP financial\nmeasure that reflects expectations regarding Xodus Medical's operating results\nfor the fiscal year ending December 31, 2026. This measure should not be\nconsidered in isolation or as a substitute for comparable U.S. GAAP financial\nmeasures. Readers are cautioned not to place undue reliance on forward-looking\nnon-GAAP financial measures.\n\nCautionary Statement Regarding Forward-Looking Information\n\nThis release contains statements concerning certain trends, expectations,\nforecasts, estimates, or other forward-looking information affecting or\nrelating to STERIS or its industry, products or activities that are intended\nto qualify for the protections afforded “forward-looking statements” under\nthe Private Securities Litigation Reform Act of 1995 and other laws and\nregulations. Forward-looking statements speak only as to the date the\nstatement is made and may be identified by the use of forward-looking terms\nsuch as “may,” “will,” “expects,” “believes,”\n“anticipates,” “plans,” “estimates,” “projects,”\n“targets,” “forecasts,” “outlook,” “impact,” “potential,”\n“confidence,” “improve,” “optimistic,” “deliver,”\n“orders,” “backlog,” “comfortable,” “trend,” and “seeks,”\nor the negative of such terms or other variations on such terms or comparable\nterminology. These forward-looking statements are based on management’s\ncurrent expectations, estimates or forecasts about STERIS’s businesses, the\nindustries in which it operates and current beliefs and assumptions of\nmanagement and are subject to uncertainty and changes in circumstances.\nReaders of this release should understand that these statements are not\nguarantees of performance or results.\n\nMany factors could cause actual results to differ materially from those in the\nforward-looking statements including, without limitation, those set forth in\nthis release. No assurances can be provided as to any result or the timing of\nany outcome regarding matters described in STERIS’s securities filings or\notherwise with respect to any regulatory action, administrative proceedings,\ngovernment investigations, litigation, warning letters, cost reductions,\nbusiness strategies, earnings or revenue trends or future financial results.\nOther potential risks and uncertainties that could cause actual results to\ndiffer materially from those in the forward-looking statements include,\nwithout limitation, (a) the impact on STERIS and its operations of any\nlegislation, regulations or orders, including but not limited to any new\ntrade, regulations or orders, that may be implemented by the U.S.\nadministration or Congress, or of any responses thereto by non-U.S.\ngovernments, (b) operating costs, pressure on pricing (including, without\nlimitation, as a result of inflation), Customer loss and business disruption\n(including, without limitation, difficulties in maintaining relationships with\nemployees, Customers, clients or suppliers) being greater than expected and\nleading to erosion of profit margins, (c) the potential of international\nunrest, military conflicts, economic downturns, currency fluctuations and\ncybersecurity events and any resulting effects on STERIS’s anticipated\ngrowth, performance or other results, (d) changes in healthcare policy or\ngovernment or other third-party payor reimbursement levels, (e) the\npossibility that compliance with laws, court rulings, certifications,\nregulations, or other regulatory actions, or the outcome of any pending or\nthreatened litigation, may delay, limit or prevent new product or service\nintroductions, impact production, supply and/or marketing of existing products\nor services, result in uncovered costs, or otherwise affect STERIS’s\nperformance, results, prospects or value, (f) changes in tax laws or\ninterpretations or the adoption of certain income tax treaties in\njurisdictions where STERIS operates that could increase its consolidated tax\nliabilities, including changes in tax laws that would result in STERIS being\ntreated as a U.S. resident for U.S. federal tax purposes, or the impact of\ntariffs and/or other trade barriers as a result of STERIS’s corporate\nstructure, (g) the impacts of increasing consolidation and competition within\nSTERIS’s industry, which may exert pressure on its pricing strategy,\nmanufacturing strategy or lead to decreasing demand for its products and\nservices, (h) the effects on STERIS’s operations resulting from\nlabor-related issues, such as strikes, unsuccessful union negotiations and\nother workforce disruptions or from its inability to recruit or retain\nmanagement and other personnel, (i) the level of STERIS’s indebtedness\nlimiting financial flexibility or increasing future borrowing costs, (j) the\neffects of changes in credit availability and pricing, as well as the ability\nof STERIS and STERIS’s Customers and suppliers to adequately access the\ncredit markets, on favorable terms or at all, when needed, (k) the possibility\nthat anticipated financial results, anticipated revenues, productivity\nimprovements, cost savings, growth synergies, and other anticipated benefits\nof acquisitions, restructuring efforts, and divestitures will not be realized\nor will be less than anticipated due to unknown or inestimable liabilities,\nimpairments, or increases in expected integration costs or difficulties in\nconnection with the integration of acquired businesses, (l) the possibility\nthat expectations about the benefits, charges and cash expenditures from the\nnew Center of Excellence in North Carolina and the related facility\nconsolidation plan may not be accurate or realized on anticipated timelines,\nor at all, (m) the risk that regulatory approvals that are required to\ncomplete the Acquisition may not be received, may take longer than expected or\nmay impose adverse conditions and STERIS’s ability to complete the\nAcquisition on the expected timeline, or at all, (n) the risk that the cost\nsavings, tax benefits and other synergies expected from the Acquisition may\nnot be realized or may take longer to realize than expected, including that\nthe Acquisition may not be accretive or produce the expected cash tax benefits\nwithin the expected timeframe or to the extent anticipated, and (o) other\nrisks described in STERIS’s most recent Annual Report on Form 10-K and other\nreports filed with the Securities and Exchange Commission.\n\nReaders are cautioned not to place undue reliance on any forward-looking\nstatements included in this release, which speak only as of the date hereof.\nSTERIS undertakes no obligation to update or revise any forward-looking\nstatement, whether as a result of new information, future developments or\notherwise, except as required by applicable law.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2c1a9c6d-bc94-4d3f-a47f-0ac0d209f8b6)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3mv18p-20261012","title":"STERIS Expands Healthcare Consumables Offering with Definitive Agreement to Acquire  Xodus Medical, a Specialty Surgical Products Business Focused on Patient and OR Staff Safety","author":"Globe Newswire","ticker":"STE","created":"2026-10-12T12:00:00.236Z","tickers":["STE"],"exchange":"NYSE","article_body":"* Consumable product portfolio a natural extension for STERIS’s Healthcare\nCustomers\n* Compelling financial benefits: expected to be accretive to top-line growth,\nmargins and adjusted earnings \n* Anticipated to close by December 31, 2026\nDUBLIN, IRELAND, Oct. 12, 2026 (GLOBE NEWSWIRE) -- STERIS plc (NYSE: STE)\n(“STERIS” or the “Company”) today announced that STERIS Corporation, a\nwholly owned subsidiary of the Company, has signed a definitive agreement to\nacquire Xodus Medical, Inc., a specialty surgical products business based in\nPennsylvania, and certain related affiliates (“Xodus Medical”), for $2.1\nbillion at closing. STERIS anticipates that the transaction will generate cash\ntax benefits with a net present value of approximately $300 million, resulting\nin a net purchase price of approximately $1.8 billion. The purchase price is\nsubject to customary adjustments, with additional potential earnout\nconsideration of up to $150 million based on the achievement of specified\npost-closing performance targets in calendar 2028. Annual revenue of Xodus\nMedical in calendar 2026 is anticipated to be approximately $245 million, with\nadjusted EBIT of approximately $135 million.\n\n“Xodus Medical’s product portfolio complements and expands STERIS’s\noffering, particularly by adding consumables used in the operating room. Its\nfocus on products that make surgery safer aligns closely with our MISSION TO\nHELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD,” said Dan Carestio,\nPresident and Chief Executive Officer of STERIS. “The business has\ndemonstrated an ability to grow at double-digit rates with its specialty\nproduct portfolio, a steady stream of new products, and a highly effective\ncommercial team. We look forward to welcoming the Xodus Medical team to STERIS\nand working together to enhance our service to our Customers and value for our\nshareholders.”\n\n“Xodus Medical is an established provider of solutions that measurably\nimprove surgical patient safety,” said Craig Kaforey, Chief Executive\nOfficer of Xodus Medical. “Joining a global leader like STERIS marks an\nexciting new chapter for our company and allows us to deliver even greater\nvalue to our Customers. For our employees, this partnership opens incredible\nopportunities for professional growth and development across our entire\norganization.”\n\nUnder the terms of the agreement, STERIS Corporation will acquire all the\nequity of Xodus Medical. The transaction is expected to be financed primarily\nwith debt and is anticipated to close by December 31, 2026, subject to\ncustomary closing conditions and regulatory approvals. STERIS will provide\nrevised fiscal 2027 outlook inclusive of Xodus Medical after closing.\n\nAdvisors\n\nGoldman Sachs & Co. LLC is serving as exclusive financial advisor to STERIS,\nand Jones Day is serving as legal counsel. J.P. Morgan is serving as exclusive\nfinancial advisor to Xodus Medical, and Morgan, Lewis & Bockius LLP is serving\nas legal counsel.\n\nAbout STERIS\n\nSTERIS is a leading global provider of products and services that support\npatient care with an emphasis on infection prevention. WE HELP OUR CUSTOMERS\nCREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare and life\nscience products and services around the globe. For more information, visit\nwww.steris.com.\n\nAbout Xodus Medical\n\nFounded in 1993 and headquartered near Pittsburgh, Pennsylvania, Xodus Medical\nis a leading developer and manufacturer of innovative medical devices\ndedicated to Making Surgery Safer™. The company's comprehensive portfolio of\nproprietary surgical safety technologies, including its flagship Pink Pad®\npatient positioning systems, serves hospitals worldwide. Xodus Medical has\nestablished itself as a trusted partner to healthcare professionals and a\nrecognized leader in perioperative patient safety. For more information, visit\nwww.xodusmedical.com.\n\nSTERIS Contact\n\nJulie Winter, Vice President Investor Relations and Corporate Communications\n\njulie_winter@steris.com\n\nNon-GAAP Financial Measures\n\nProjected Xodus Medical Adjusted EBIT is a non-GAAP financial measure and\nshould not be considered a substitute for results prepared in accordance with\nU.S. GAAP. The Company presents this measure to provide investors with\nadditional insight into the financial information used by management and the\nBoard of Directors in evaluating the acquisition of Xodus Medical.\n\nAs used in this release, Xodus Medical Adjusted EBIT represents Xodus\nMedical’s projected operating income of $121 million for the full calendar\nyear ending December 31, 2026, adjusted for approximately $14 million of\ncharges substantially consisting of a royalty arrangement that was terminated\nduring 2026.\n\nProjected Xodus Medical Adjusted EBIT is a forward-looking non-GAAP financial\nmeasure that reflects expectations regarding Xodus Medical's operating results\nfor the fiscal year ending December 31, 2026. This measure should not be\nconsidered in isolation or as a substitute for comparable U.S. GAAP financial\nmeasures. Readers are cautioned not to place undue reliance on forward-looking\nnon-GAAP financial measures.\n\nCautionary Statement Regarding Forward-Looking Information\n\nThis release contains statements concerning certain trends, expectations,\nforecasts, estimates, or other forward-looking information affecting or\nrelating to STERIS or its industry, products or activities that are intended\nto qualify for the protections afforded “forward-looking statements” under\nthe Private Securities Litigation Reform Act of 1995 and other laws and\nregulations. Forward-looking statements speak only as to the date the\nstatement is made and may be identified by the use of forward-looking terms\nsuch as “may,” “will,” “expects,” “believes,”\n“anticipates,” “plans,” “estimates,” “projects,”\n“targets,” “forecasts,” “outlook,” “impact,” “potential,”\n“confidence,” “improve,” “optimistic,” “deliver,”\n“orders,” “backlog,” “comfortable,” “trend,” and “seeks,”\nor the negative of such terms or other variations on such terms or comparable\nterminology. These forward-looking statements are based on management’s\ncurrent expectations, estimates or forecasts about STERIS’s businesses, the\nindustries in which it operates and current beliefs and assumptions of\nmanagement and are subject to uncertainty and changes in circumstances.\nReaders of this release should understand that these statements are not\nguarantees of performance or results.\n\nMany factors could cause actual results to differ materially from those in the\nforward-looking statements including, without limitation, those set forth in\nthis release. No assurances can be provided as to any result or the timing of\nany outcome regarding matters described in STERIS’s securities filings or\notherwise with respect to any regulatory action, administrative proceedings,\ngovernment investigations, litigation, warning letters, cost reductions,\nbusiness strategies, earnings or revenue trends or future financial results.\nOther potential risks and uncertainties that could cause actual results to\ndiffer materially from those in the forward-looking statements include,\nwithout limitation, (a) the impact on STERIS and its operations of any\nlegislation, regulations or orders, including but not limited to any new\ntrade, regulations or orders, that may be implemented by the U.S.\nadministration or Congress, or of any responses thereto by non-U.S.\ngovernments, (b) operating costs, pressure on pricing (including, without\nlimitation, as a result of inflation), Customer loss and business disruption\n(including, without limitation, difficulties in maintaining relationships with\nemployees, Customers, clients or suppliers) being greater than expected and\nleading to erosion of profit margins, (c) the potential of international\nunrest, military conflicts, economic downturns, currency fluctuations and\ncybersecurity events and any resulting effects on STERIS’s anticipated\ngrowth, performance or other results, (d) changes in healthcare policy or\ngovernment or other third-party payor reimbursement levels, (e) the\npossibility that compliance with laws, court rulings, certifications,\nregulations, or other regulatory actions, or the outcome of any pending or\nthreatened litigation, may delay, limit or prevent new product or service\nintroductions, impact production, supply and/or marketing of existing products\nor services, result in uncovered costs, or otherwise affect STERIS’s\nperformance, results, prospects or value, (f) changes in tax laws or\ninterpretations or the adoption of certain income tax treaties in\njurisdictions where STERIS operates that could increase its consolidated tax\nliabilities, including changes in tax laws that would result in STERIS being\ntreated as a U.S. resident for U.S. federal tax purposes, or the impact of\ntariffs and/or other trade barriers as a result of STERIS’s corporate\nstructure, (g) the impacts of increasing consolidation and competition within\nSTERIS’s industry, which may exert pressure on its pricing strategy,\nmanufacturing strategy or lead to decreasing demand for its products and\nservices, (h) the effects on STERIS’s operations resulting from\nlabor-related issues, such as strikes, unsuccessful union negotiations and\nother workforce disruptions or from its inability to recruit or retain\nmanagement and other personnel, (i) the level of STERIS’s indebtedness\nlimiting financial flexibility or increasing future borrowing costs, (j) the\neffects of changes in credit availability and pricing, as well as the ability\nof STERIS and STERIS’s Customers and suppliers to adequately access the\ncredit markets, on favorable terms or at all, when needed, (k) the possibility\nthat anticipated financial results, anticipated revenues, productivity\nimprovements, cost savings, growth synergies, and other anticipated benefits\nof acquisitions, restructuring efforts, and divestitures will not be realized\nor will be less than anticipated due to unknown or inestimable liabilities,\nimpairments, or increases in expected integration costs or difficulties in\nconnection with the integration of acquired businesses, (l) the possibility\nthat expectations about the benefits, charges and cash expenditures from the\nnew Center of Excellence in North Carolina and the related facility\nconsolidation plan may not be accurate or realized on anticipated timelines,\nor at all, (m) the risk that regulatory approvals that are required to\ncomplete the Acquisition may not be received, may take longer than expected or\nmay impose adverse conditions and STERIS’s ability to complete the\nAcquisition on the expected timeline, or at all, (n) the risk that the cost\nsavings, tax benefits and other synergies expected from the Acquisition may\nnot be realized or may take longer to realize than expected, including that\nthe Acquisition may not be accretive or produce the expected cash tax benefits\nwithin the expected timeframe or to the extent anticipated, and (o) other\nrisks described in STERIS’s most recent Annual Report on Form 10-K and other\nreports filed with the Securities and Exchange Commission.\n\nReaders are cautioned not to place undue reliance on any forward-looking\nstatements included in this release, which speak only as of the date hereof.\nSTERIS undertakes no obligation to update or revise any forward-looking\nstatement, whether as a result of new information, future developments or\notherwise, except as required by applicable law.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2c1a9c6d-bc94-4d3f-a47f-0ac0d209f8b6)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-12T12:00:00.359774537Z","server_sent_at_ms":1791806400359},"received_at":"2026-10-12T12:00:00.433Z","source_url":null},"analysis":{"id":"154656","press_release_id":"166286","analysis_json":{"industry":{"label":"Health Care Equipment & Supplies","sector":"Health Care"},"redFlags":["financed primarily with debt — increases leverage","closing subject to regulatory approvals; timeline could slip","fiscal 2027 guidance impact not yet quantified"],"eventType":"m_and_a","narrative":"STERIS signed a definitive agreement to acquire Xodus Medical, a specialty surgical products maker, for $2.1 billion at closing, expected to close by December 31, 2026.\n\nCash tax benefits with an NPV of roughly $300 million reduce the net purchase price to about $1.8 billion, with up to $150 million in earnout tied to 2028 performance targets.\n\nXodus is expected to deliver about $245 million of 2026 revenue and $135 million of adjusted EBIT, and the deal is anticipated to be accretive to top-line growth, margins, and adjusted earnings.\n\nFinancing will be primarily debt-funded, and STERIS will provide a revised fiscal 2027 outlook including Xodus after closing.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"STERIS pays ~7.3x 2026 EBIT net of tax benefits for a double-digit-growth surgical consumables franchise — accretive bolt-on that deepens OR exposure."},"keyFigures":{"dealValueUsd":2100000000,"customDimensions":{"expected_close":"by December 31, 2026","tax_benefit_npv_usd":300000000,"earnout_potential_usd":150000000,"net_purchase_price_usd":1800000000,"target_revenue_2026e_usd":245000000,"target_adjusted_ebit_2026e_usd":135000000,"target_operating_income_2026e_usd":121000000}},"quotedText":"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.","namedEntities":{"people":[{"name":"Dan Carestio","role":"President and CEO of STERIS"},{"name":"Craig Kaforey","role":"CEO of Xodus Medical"},{"name":"Julie Winter","role":"VP Investor Relations and Corporate Communications, STERIS"}],"products":["Pink Pad patient positioning systems"],"companies":[{"name":"STERIS plc","ticker":"STE","relationship":"acquirer (filer)"},{"name":"STERIS Corporation","relationship":"acquiring subsidiary"},{"name":"Xodus Medical, Inc.","relationship":"target"},{"name":"Goldman Sachs & Co. LLC","relationship":"financial advisor to STERIS"},{"name":"Jones Day","relationship":"legal counsel to STERIS"},{"name":"J.P. Morgan","relationship":"financial advisor to Xodus Medical"},{"name":"Morgan, Lewis & Bockius LLP","relationship":"legal counsel to Xodus Medical"}],"dollarAmounts":[{"amount":"$2.1 billion","context":"purchase price at closing for Xodus Medical"},{"amount":"$300 million","context":"net present value of cash tax benefits"},{"amount":"$1.8 billion","context":"net purchase price after tax benefits"},{"amount":"$150 million","context":"potential earnout consideration based on 2028 performance targets"},{"amount":"$245 million","context":"anticipated 2026 annual revenue of Xodus Medical"},{"amount":"$135 million","context":"anticipated 2026 adjusted EBIT of Xodus Medical"},{"amount":"$121 million","context":"projected 2026 operating income of Xodus Medical"},{"amount":"$14 million","context":"adjusting charges to operating income, substantially a terminated royalty arrangement"}]},"materialImpact":{"score":4,"reasoning":"STERIS announced a definitive agreement to acquire Xodus Medical for $2.1 billion ($1.8B net of tax benefits), financed primarily with debt. Material M&A with accretion to growth, margins and adjusted EPS expected, though integration and regulatory risks remain."},"tickerRelevance":{"others":[],"primary":"STE"},"globalImportance":45,"audienceRelevance":40,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"large-cap","eventGravity":"$2.1B M&A","sectorWeight":"healthcare equipment","householdBrandBoost":"moderate"}},"event_type":"m_and_a","event_type_secondary":null,"sentiment":"bullish","material_impact_score":4,"narrative":"STERIS signed a definitive agreement to acquire Xodus Medical, a specialty surgical products maker, for $2.1 billion at closing, expected to close by December 31, 2026.\n\nCash tax benefits with an NPV of roughly $300 million reduce the net purchase price to about $1.8 billion, with up to $150 million in earnout tied to 2028 performance targets.\n\nXodus is expected to deliver about $245 million of 2026 revenue and $135 million of adjusted EBIT, and the deal is anticipated to be accretive to top-line growth, margins, and adjusted earnings.\n\nFinancing will be primarily debt-funded, and STERIS will provide a revised fiscal 2027 outlook including Xodus after closing.","key_figures":{"dealValueUsd":2100000000,"customDimensions":{"expected_close":"by December 31, 2026","tax_benefit_npv_usd":300000000,"earnout_potential_usd":150000000,"net_purchase_price_usd":1800000000,"target_revenue_2026e_usd":245000000,"target_adjusted_ebit_2026e_usd":135000000,"target_operating_income_2026e_usd":121000000}},"named_entities":{"people":[{"name":"Dan Carestio","role":"President and CEO of STERIS"},{"name":"Craig Kaforey","role":"CEO of Xodus Medical"},{"name":"Julie Winter","role":"VP Investor Relations and Corporate Communications, STERIS"}],"products":["Pink Pad patient positioning systems"],"companies":[{"name":"STERIS plc","ticker":"STE","relationship":"acquirer (filer)"},{"name":"STERIS Corporation","relationship":"acquiring subsidiary"},{"name":"Xodus Medical, Inc.","relationship":"target"},{"name":"Goldman Sachs & Co. LLC","relationship":"financial advisor to STERIS"},{"name":"Jones Day","relationship":"legal counsel to STERIS"},{"name":"J.P. 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