Xodus Medical announces that it has reached an acquisition agreement with STERIS. STERIS ( NYSE : STE ) is a global provider of products and services that focuses on supporting patient care, with a particular emphasis on infection prevention.
This acquisition represents an important milestone for Xodus Medical, which has a history of over 30 years. Xodus Medical states that this transaction will bring together two companies that share a common commitment to promoting patient safety, supporting medical professionals, and providing innovative solutions for surgical environments. As part of a larger global organization, Xodus Medical aims to expand its business coverage, leverage complementary capabilities, and create greater value for its customers.
Xodus Medical CEO Craig Kaforey stated: "Joining STERIS represents an exciting new chapter for Xodus Medical, and it is also an opportunity for us to build upon the achievements of our outstanding team over the past 30 years. By combining our innovative products and professional capabilities with STERIS's extensive resources, industry knowledge, and mature market position, we see great potential in providing even greater value to our customers. Equally important is that we believe our shared values and commitment to excellence will create meaningful opportunities for our employees to grow and develop as part of a global organization. I am incredibly proud of the achievements made by the team and look forward to the future with great anticipation."
STERIS has revenues of approximately $6 billion and employs 18,000 people, focusing on providing innovative medical and life science products and services globally. STERIS, President and CEO of Dan Carestio, stated: "The product portfolio of Xodus Medical complements that of STERIS and expands our offerings, especially with an increase in disposable consumables for operating rooms. Its focus on making surgeries safer is highly consistent with our mission to help customers create a healthier and safer world. This business has demonstrated the ability to achieve double-digit growth thanks to its professional product portfolio, continuous introduction of new products, and an efficient business team. We look forward to welcoming the Xodus Medical team to STERIS and working together to enhance the services we provide to our customers as well as the value we create for shareholders."
Throughout its development, Xodus Medical has always focused on the mission of "making surgery safer™". The company believes that joining STERIS will further enhance its ability to provide differentiated solutions for healthcare providers, thereby improving patient safety and enhancing surgical outcomes.
Consultant
Goldman Sachs and Co serve as the exclusive financial advisors for STERIS, while Jones Day acts as its legal counsel. J.P and Morgan act as the exclusive financial advisors for Xodus Medical, and Morgan, Lewis and Bockius LLP serve as its legal counsel.
About STERIS
STERIS is a leading global provider of products and services that support patient care, with a focus on infection prevention. By offering innovative medical and life science products and services worldwide, we help our customers create a healthier and safer world. For more information, please visit www.steris.com.
About Xodus Medical
Xodus Medical was founded in 1993 and is headquartered near Pittsburgh, Pennsylvania. It is a leading innovator in the development and manufacturing of medical devices, dedicated to "making surgery safer™". The company possesses a comprehensive portfolio of proprietary surgical safety technologies, including its flagship product, the Pink Pad ® Patient Positioning System, which serves hospitals around the world. Xodus Medical has become a trusted partner for medical professionals and is recognized as a leader in the field of perioperative patient safety. For more information, please visit www.xodusmedical.com.
