STERIS TO ACQUIRE XODUS MEDICAL FOR $2.1 BILLION

STERIS agreed to buy Pennsylvania-based surgical products maker Xodus Medical for $2.1 billion, a price that falls to about $1.8 billion once expected tax benefits are factored in. Xodus is projected to generate roughly $245 million in revenue in 2026, making this one of STERIS's richest acquisitions by revenue multiple. STERIS ($STE) plans to fund the deal mostly with debt and expects it to close by December 31, 2026.