The acquisition adds operating room consumables and surgical safety products to STERIS’ healthcare offerings.
Xodus Medical, a developer and manufacturer of surgical safety solutions, has entered into an agreement to be acquired by STERIS, a global provider of infection prevention products and services supporting patient care.
The deal marks a milestone in Xodus Medical’s more than 30-year history, with the Pittsburgh-based company positioning the acquisition as an opportunity to expand its market reach and broaden the value it delivers to healthcare customers through STERIS’ global infrastructure.
STERIS, which generates approximately $6 billion in annual revenue and employs 18,000 associates globally, will gain access to Xodus Medical’s specialty product portfolio focused on surgical safety.
“Xodus Medical’s product portfolio complements and expands STERIS’ offering, particularly by adding consumables used in the operating room. Its focus on products that make surgery safer aligns closely with our mission to help our customers create a healthier and safer world,” says Dan Carestio, president and CEO of STERIS, in a release. “The business has demonstrated an ability to grow at double-digit rates with its specialty product portfolio, a steady stream of new products, and a highly effective commercial team. We look forward to welcoming the Xodus Medical team to STERIS and working together to enhance our service to our customers and value for our shareholders.”
Both companies cited shared commitments to product development, continuous improvement, and relationships with healthcare professionals as factors supporting the combination.
“Joining STERIS represents an exciting new chapter for Xodus Medical and an opportunity to build upon everything our talented team has accomplished over the past three decades,” says Craig Kaforey, CEO of Xodus Medical, in a release. “Together, we see tremendous potential to deliver even greater value to our customers by combining our innovative products and expertise with STERIS’ extensive resources, industry knowledge, and established market presence.”
Kaforey added that the shared values between the organizations are expected to create development opportunities for Xodus Medical employees within a larger global organization.
Xodus Medical, which operates under the mission of “Making Surgery Safer,” says the acquisition will strengthen its ability to support healthcare providers with solutions aimed at enhancing patient safety and improving surgical outcomes.
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