Steris plc Acquires Key Surgical for $850m

Ireland-based Steris plc, a $3.1b provider of specialty sterilization solutions, equipment processing and endoscope repair services has acquired Key Surgical, a producer of consumables used in minimally-invasive procedures, from private equity firm Water Street.  The acquisition adds OR-focused instruments and other sterile, single-use products that builds on Steris’ leading position in infection prevention and reprocessing technologies.  Deal terms -- $850m on sales of $170m (5.0x) and adjusted EBITDA of $50m (17.0x).

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