Xodus Medical Announces Agreement to Be Acquired by STERIS (NYSE: STE)

PITTSBURGH, Oct. 12, 2026 /PRNewswire/ -- Xodus Medical, a leading developer and manufacturer of innovative surgical safety solutions, today announced that it has entered into an agreement to be acquired by STERIS, a global provider of products and services that support patient care with an emphasis on infection prevention.

The acquisition represents a significant milestone in Xodus Medical's more than 30-year history, bringing together two organizations with a shared commitment to advancing patient safety, supporting healthcare professionals, and delivering innovative solutions to the surgical environment. As part of a larger global organization, Xodus Medical looks forward to expanding its reach, leveraging complementary capabilities, and delivering even greater value to its customers.

Equally important is the strong cultural alignment between the two companies. Both organizations share a dedication to product excellence, continuous improvement, and building lasting relationships with the healthcare professionals they serve. "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," said Craig Kaforey, Chief Executive Officer of Xodus Medical. "Together, we see tremendous potential to deliver even greater value to our customers by combining our innovative products and expertise with STERIS's extensive resources, industry knowledge, and established market presence. Just as importantly, we believe our shared values and commitment to excellence will create meaningful opportunities for our employees to grow and develop as part of a global organization. I am incredibly proud of what our team has accomplished and excited about what lies ahead."

STERIS is approximately $6 billion in revenue, with 18,000 Associates focused on providing innovative healthcare and life science products and services around the globe. "Xodus Medical's product portfolio complements and expands STERIS's 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," said Dan Carestio, President and Chief Executive Officer of STERIS. "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."

Throughout its history, Xodus Medical has remained focused on its mission of Making Surgery Safer™. The company believes joining STERIS will further strengthen its ability to support healthcare providers with differentiated solutions that enhance patient safety and improve surgical outcomes.

Advisors

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to STERIS, and Jones Day is serving as legal counsel. J.P. Morgan is serving as exclusive financial advisor to Xodus Medical, and Morgan, Lewis & Bockius LLP is serving as legal counsel.

About STERIS

STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention. WE HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare and life science products and services around the globe. For more information, visit www.steris.com.

About Xodus Medical

Founded in 1993 and headquartered near Pittsburgh, Pennsylvania, Xodus Medical is a leading developer and manufacturer of innovative medical devices dedicated to Making Surgery Safer™. The company's comprehensive portfolio of proprietary surgical safety technologies, including its flagship Pink Pad® patient positioning systems, serves hospitals worldwide. Xodus Medical has established itself as a trusted partner to healthcare professionals and a recognized leader in perioperative patient safety. For more information, visit www.xodusmedical.com.

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SOURCE Xodus Medical