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STERIS plc (NYSE: STE) is a leading global provider of infection prevention and procedural surgical products and services, primarily serving healthcare, pharmaceutical, research, and medical device customers. With a mission to create a healthier today and a safer tomorrow, the company delivers innovative infection prevention, decontamination, and health science technologies that support patient care and safety.
Founded in 1985 as Innovative Medical Technologies and rebranded as STERIS in 1987, the company’s history traces back to 1894 with the American Sterilizer Company, a pioneer in sterilization products. Today, STERIS is headquartered in Dublin, Ireland, and has positioned itself as a formidable force in the industry through strategic acquisitions and continuous innovation.
STERIS operates through several segments:
- Healthcare Services: Constituting approximately 70% of total revenue, this segment includes sterilizers, washer-disinfectors, and other decontamination equipment for healthcare facilities and biopharmaceutical manufacturing sites.
- Applied Sterilization Technologies (AST): Generating 19% of revenue, AST provides contract sterilization services for single-use and implantable medical devices globally.
- Life Sciences Services: Accounting for about 11% of revenue, this segment offers services and products for research and pharmaceutical environments.
In recent developments, STERIS has signed a definitive agreement to acquire surgical and sterilization assets from Becton, Dickinson and Company (BD) for $540 million. This acquisition, expected to close by September 2023, will expand STERIS’s product offerings within its Healthcare segment, focusing on operating rooms and sterile processing departments.
Financially, STERIS has demonstrated robust growth. For the first quarter of fiscal 2024, revenue increased by 11% to $1.28 billion, driven by improvements in procedure volumes and easing of supply chain challenges. The company continues to show strength across its segments, particularly in Healthcare, which saw a 17% growth in revenue to $818.9 million.
Moreover, STERIS is undergoing a targeted restructuring plan in its Healthcare surgical business in Europe, aiming to enhance its operational efficiency. This includes product rationalizations and facility consolidations, signaling a commitment to long-term profitability and growth.
STERIS remains committed to its vision of creating a safer world through continuous innovation and strategic expansions, making it a key player in the global healthcare industry.
STERIS plc (NYSE: STE) has announced a quarterly dividend of $0.43 per share, payable on June 28, 2022, to shareholders on record by June 14, 2022. This decision underscores STERIS's commitment to returning value to its shareholders while reinforcing its position as a leading provider of health products emphasizing infection prevention. The company's innovative offerings aim to contribute to a healthier world. For more details, visit www.steris.com.
STERIS plc (NYSE: STE) will host a conference call on May 12, 2022, at 10:00 a.m. ET to discuss its fiscal 2022 fourth quarter and full year financial results. A press release detailing these results will be issued following the market's close on May 11, 2022. Investors can access the live call via the company’s investor relations website or by phone. A replay will be available post-call. STERIS is known for providing innovative healthcare products and services focused on infection prevention.
STERIS reported a remarkable 49% revenue increase in Q3 FY2022, totaling $1.2 billion, compared to $808.9 million in Q3 FY2021. Adjusted EPS rose to $2.12, up from $1.73 year-over-year. The healthcare segment saw a 46% revenue growth supported by acquisitions, while the Applied Sterilization Technologies segment also showed strong results with a 23% revenue increase. The company raised its full-year guidance, anticipating an 11% organic revenue growth and adjusted EPS of $7.85 to $7.95. Despite challenges from inflation and supply chain issues, STERIS expects a record year.
STERIS plc (NYSE: STE) has announced a quarterly interim dividend of $0.43 per share, payable on March 24, 2022, to shareholders on record as of February 25, 2022. This decision reinforces STERIS's commitment to providing value to its shareholders while supporting its role as a leading global provider of products and services focused on infection prevention and patient care. The company continues to emphasize its innovative approach in healthcare and life sciences.
STERIS plc (NYSE: STE) will host a conference call on February 9, 2022, at 10:00 a.m. ET to discuss its third-quarter fiscal 2022 financial results. A detailed press release will be issued on February 8, 2022, after market close. The conference can be accessed live online or via phone. A replay will be available post-call. STERIS provides innovative healthcare and infection prevention products and services, focusing on patient care. For further details, visit www.steris.com.
Evoqua Water Technologies (NYSE: AQUA) has completed the acquisition of the renal business from STERIS Plc (NYSE: STE), previously operated by Mar Cor Purification and Cantel Medical. The acquisition is projected to bring in approximately $180 million in annual revenues and an adjusted EBITDA of around $27 million before synergies. This strategic move is set to enhance Evoqua's presence in the healthcare market across North America, leveraging Mar Cor's expertise in high-purity water treatment systems across 5,500 sites.
Evoqua Water Technologies (NYSE: AQUA) announced an agreement to acquire the renal business assets of Mar Cor Purification and Cantel Medical, subsidiaries of STERIS Plc (NYSE: STE), for $196.3 million. This acquisition aims to enhance Evoqua's medical water purification solutions and expand its footprint in the healthcare market. The transaction, expected to close in Q2 FY2022, is projected to generate annual revenues of approximately $180 million and adjusted EBITDA of around $27 million prior to synergies.
STERIS reported a 58% increase in second quarter revenue, reaching $1,197 million, compared to $756 million in Q2 fiscal 2021. The adjusted EPS rose to $1.99 from $1.48 year-over-year. The company indicated a strong recovery in procedure volumes, especially in the U.S., and reiterated its fiscal 2022 outlook for 10-11% organic revenue growth and adjusted EPS of $7.60 to $7.85. However, net income fell to $69.8 million, impacted by acquisition-related costs.
STERIS plc (NYSE: STE) announced a quarterly interim dividend of $0.43 per share, payable on December 17, 2021 to shareholders of record by November 23, 2021. The company emphasizes its role as a global provider focused on enhancing patient care through infection prevention. STERIS aims to create a healthier world with its innovative healthcare, life sciences, and dental products. For further details, visit www.steris.com.
STERIS plc (NYSE: STE) will host a conference call on November 3, 2021, at 10:00 a.m. ET to discuss its fiscal 2022 second quarter financial results. A press release detailing these results will be issued after the U.S. market closes on November 2, 2021. Investors can access the call live or via a replay on the STERIS investor relations website or by phone. STERIS provides innovative healthcare and infection prevention products and services, aiming to support patient care globally.
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