Steris plc Acquires Cantel Medical for $4.6b

Steris plc (NYSE: STE), a $3.0b Ireland-based provider of sterile processing services, endoscope repair, cleaning chemistries and assurance products, announced plans to acquire Cantel Medical (NYSE:CMD), a provider of infection prevention products and services focused on endoscopy and dental customers for $4.6b.  Cantel’s largest business, its Medical portfolio, adds a comprehensive suite of endoscopy-focused disinfection consumables, capital equipment and services in addition to providing Steris with entry into dental.  Steris just closed its $850m purchase of producer of endoscopy and surgical single-use products Key Surgical from Water Street Healthcare Partners in late November 2020.  Deal terms -- $4.6b on sales of $1.0b (4.5x) and EBITDA of $122.7m (37.5x).

Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare Mergers, Medical Devices, Endoscopy