STERIS acquires surgical instrumentation assets from BD for $540M; expects close by Sept 30, 2023

STERIS plc

Purchase price $540M in cash; assets include V. Mueller, Snowden-Pencer, Genesis brands.
Annual revenue for acquired businesses ~$170M; adjusted EBIT ~$45M (fiscal 2023 projected).
Expected to close by Sept 30, 2023, subject to HSR and customary conditions.
Deal financed via debt and cash on hand; expected accretive to adjusted EPS in FY2024.
STERIS anticipates ~$60M present value tax benefit from goodwill.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

STERIS plc entered into Asset Purchase Agreement with Becton, Dickinson and Company valued at $540 million (effective 2023-06-15).

Action: entry
Agreement: asset purchase
Counterparty: Becton, Dickinson and Company
Value: $540 million
Effective: 2023-06-15

Exact text from the filing

On June 15, 2023, STERIS plc (“STERIS”) and STERIS Corporation (“Purchaser”), a wholly owned subsidiary of STERIS, entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Becton, Dickinson and Company (the “Seller”).

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STERIS plc filing history →

Source: SEC EDGAR

accession 0001193125-23-169645

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