Oct 12 (Reuters) – Medical equipment maker Steris said on Monday it will buy Xodus Medical for $2.1 billion, expanding its healthcare consumables portfolio with products designed to improve safety for patients and operating-room staff.
The transaction is expected to be financed primarily with debt and is anticipated to close by December 31, 2026.
Steris expects the deal will generate cash tax benefits with a net present value of about $300 million, resulting in a net purchase price of about $1.8 billion.
The company said annual revenue of Pennsylvania-based Xodus Medical in 2026 is anticipated to be about $245 million.
(Reporting by Christy Santhosh in Bengaluru; Editing by Leroy Leo and Vijay Kishore)
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