STERIS to acquire Xodus Medical for $2.1B cash, plus up to $150M earnout; $2.0B bridge committed

STERIS plc

STERIS Corporation, a wholly owned subsidiary of STERIS plc, signed a Purchase and Sale Agreement on October 11, 2026 to buy all equity of Xodus Medical, Inc.
Purchase price is $2.1B in cash at closing, subject to customary adjustments, plus up to $150M earnout tied to calendar 2028 performance targets.
Sellers are Craig E. Kaforey and Mark A. Kaforey, individually and as trustees of their respective Legacy Trusts; Xodus is a Pennsylvania specialty surgical products business.
Deal expected to close by December 31, 2026, subject to regulatory approvals; either party may terminate if not closed by July 12, 2027, extendable to January 11, 2028.
Financing: up to $2.0B senior unsecured bridge facility committed by JPMorgan Chase Bank and Goldman Sachs Bank USA, reducible dollar-for-dollar by permanent financing or asset sale proceeds.

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