STERIS has agreed to acquire Xodus Medical for $2.1 billion, according to a medtech industry roundup. The deal would expand STERIS's portfolio of hospital consumables and operating room products, including patient positioning cushions, infection prevention devices, and surgical equipment.
Xodus is projected to generate $245 million in 2026 revenue, the roundup said. The transaction includes up to $150 million in performance-based earnouts and expected tax benefits of approximately $300 million, bringing the net acquisition cost to around $1.8 billion.
The acquisition is expected to close by the end of 2026. According to the source, it strengthens STERIS's position in surgical care and builds on its strategy of expanding its healthcare consumables and operating room offerings.
The same roundup reported other medtech developments. Agilent Technologies has agreed to acquire digital pathology software provider Proscia for $240 million upfront, plus up to $30 million in milestone payments, with the deal expected to close early in fiscal 2027. Stryker will invest approximately $400 million in CMR Surgical and its Versius robotic-assisted surgery portfolio, alongside an exclusive U.S. commercial agency agreement to sell the technology, and will hold an option to acquire CMR Surgical entirely in the future. Medtronic has completed an exchange offer to transfer its remaining 252.8 million MiniMed Group shares to participating shareholders, ending its ownership stake in the diabetes technology company.