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.
    • ...

Today's Sponsors

LEK
ZeOmega

Today's Sponsor

LEK

Continue Reading

 
Topics: Medical Devices, Mergers & Acquisitions / JV, Trends
Related Articles:
GE HealthCare Expands Cardiac AI Coaching to Hand-Held Ultrasound Scanner
Orthobond Receives FDA De Novo Approval for Antibacterial Technology
The Top 25 Medical Device Executives of 2024
New regulations to help turn tide on health care cyberattacks
Digital Health Intelligence Market Analysis: Medical Device Cyber Security

Share This Article