# STERIS to Buy Xodus Medical for $2.1 Billion in Cash Deal

- URL: https://stocks.freetheai.org/news/steris-to-buy-xodus-medical-for-2-1-billion-in-cash-deal-7c7e06
- Published: 2026-10-13T20:33:00Z
- Category: mergers; sentiment: neutral; impact: high
- Symbols: [NYSE:STE](https://stocks.freetheai.org/symbols/NYSE-STE)
- Written by our AI from expert market sources across the web for FreeTheAI Stocks, built by Vibhek Soni
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STERIS plc (STE) has agreed to acquire Xodus Medical for $2.1 billion in cash. The deal also includes up to $150 million in potential earnout payments linked to performance targets in 2028. The purchase agreement was signed on October 11, 2026, with counterparties Craig E. Kaforey and Mark A. Kaforey.

The transaction is designed to expand Steris's specialty surgical products portfolio. Steris plans to finance the purchase primarily through debt and has secured up to $2.0 billion in senior unsecured bridge financing from JPMorgan and Goldman Sachs. This commitment may be reduced by permanent financing or asset sales.

The deal is expected to close by December 31, 2026, subject to customary closing conditions and regulatory approvals. Termination provisions extend to January 11, 2028, under certain circumstances. STERIS shares were down 0.55% at $217.80 following the news.

## Key points

- STERIS plc signed an agreement on October 11, 2026, to acquire Xodus Medical for $2.1 billion in cash.
- The deal features an earnout payment of up to $150 million tied to performance in 2028.
- JPMorgan and Goldman Sachs provided a senior unsecured bridge financing commitment of up to $2.0 billion.
- The transaction aims to expand Steris's specialty surgical products portfolio and is expected to close by December 31, 2026.

## Questions and answers

### How much is STERIS paying to acquire Xodus Medical?

STERIS is paying $2.1 billion in cash for Xodus Medical, with up to an additional $150 million in earnout payments tied to performance in 2028.

### How is STERIS funding the Xodus Medical acquisition?

STERIS is funding the transaction primarily with debt, backed by up to $2.0 billion in senior unsecured bridge financing from JPMorgan and Goldman Sachs.

### When is the STERIS acquisition of Xodus Medical expected to close?

The deal is expected to close by December 31, 2026, subject to customary closing conditions and regulatory approvals.