Form 8-K · Current report
Steris 8-K, filed Oct 13, 2026
- Filed
- CIK
- 0001757898
- Accession no.
- 0001193125-26-420487
Summary
On October 11, 2026, STERIS Corporation, a wholly owned subsidiary of STERIS plc, agreed to acquire all equity interests of Xodus Medical, Inc., a Pennsylvania-based specialty surgical products business, for $2.1 billion in cash at closing plus up to $150 million in earnout consideration tied to calendar 2028 performance targets. The acquisition is expected to be financed primarily with debt, backstopped by a commitment from JPMorgan and Goldman Sachs for up to $2.0 billion in senior unsecured bridge financing, and is anticipated to close by December 31, 2026, subject to regulatory approvals.
Key points
- The purchase price is $2.1 billion in cash at closing, subject to customary adjustments, with up to $150 million in additional earnout consideration tied to calendar 2028 performance targets.
- The deal is expected to be financed primarily with debt and to close by December 31, 2026, subject to customary conditions and regulatory approvals.
- STERIS and Purchaser secured a commitment from JPMorgan and Goldman Sachs for up to $2.0 billion in senior unsecured bridge financing, reducible dollar-for-dollar by net proceeds from permanent financing or asset sales.
- Either party may terminate the agreement if the acquisition has not closed by July 12, 2027, extendable in certain circumstances to January 11, 2028.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
From the filing
ITEM 1.01. Entry into a Material Definitive Agreement. On October 11, 2026, STERIS Corporation (“Purchaser”), a wholly owned subsidiary of STERIS plc (“STERIS” or the “Company”), entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Craig E. Kaforey, individually, as trustee of the Craig E. Kaforey Legacy Trust and as seller’s representative, and Mark A. Kaforey, individually and as trustee of the Mark A. Kaforey Legacy Trust (collectively, the “Sellers”), to acquire all of the equity interests of Xodus Medical, Inc., a specialty surgical products business based in Pennsylvania, and certain related affiliates (collectively, “Xodus”). …
An excerpt of the text as filed with the SEC, cut for length.
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