MedTech Dive April 11, 2024
Elise Reuter

Divesting the business will allow Steris to repay debt and focus on its core markets of healthcare, pharma and medtech.

Dive Brief:

  • Steris has agreed to sell its dental business to investment firm Peak Rock Capital for $787.5 million in cash, the companies said on Thursday.
  • The sale will allow Steris to focus on its core markets of healthcare, pharma and medtech, CEO Dan Carestio said in a statement. The Mentor, Ohio-based company provides sterilizers and washers, surgical tables and other equipment.
  • Steris decided to divest the dental segment “after a thorough review of strategic alternatives,” Carestio said. The business reported $407 million in revenue and $86 million in operating income during the 12-month period ending Dec. 31, 2023.
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Topics: Medical Devices, Mergers & Acquisitions / JV, Trends
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