STERIS to Acquire Xodus Medical

Overview

• The companies issued a joint announcement saying Xodus Medical has entered into an agreement to be acquired by STERIS.
• STERIS said Xodus's flagship Pink Pad patient-positioning system and its operating-room consumables will broaden STERIS's product offering for hospitals and align with its patient-safety mission.
• The release did not disclose a purchase price or a definitive closing date and noted that customary regulatory and other approvals remain outstanding.
• STERIS highlighted Xodus's recent double-digit growth, steady new-product cadence, and an effective commercial team as reasons the businesses fit together.
• Goldman Sachs and Jones Day are advising STERIS while J.P. Morgan and Morgan, Lewis & Bockius are advising Xodus; Xodus was founded near Pittsburgh in 1993 and the acquisition could give its employees wider resources and customers more integrated safety and infection-prevention solutions.