STERIS plc (NYSE: STE) (“STERIS” or the “Company”) today announced that is has completed the previously announced acquisition of Key Surgical, a portfolio company of Water Street Healthcare Partners, LLC.
“We are pleased to announce the timely closing of the Key Surgical acquisition, which strengthens, complements and expands STERIS’s product offering and global reach,” said Walt Rosebrough, President and Chief Executive Officer of STERIS. “We welcome Key Surgical people to the STERIS team, and look forward to working together to provide enhanced service to our Customers and create additional value for our shareholders.”
STERIS now anticipates that Key Surgical will add about 35% more revenue and adjusted earnings per diluted share in the fiscal year than initially anticipated with a December 31, 2020 close. As a result, the Company now expects approximately $55 million in revenue and $0.13 in adjusted earnings per diluted share in fiscal 2021 from the Key Surgical acquisition, assuming no major disruptions due to COVID-19.
Goldman Sachs & Co. LLC is serving as exclusive financial advisor to STERIS and Jones Day and Wachtell, Lipton, Rosen & Katz are serving as legal counsel. Piper Sandler & Co. is serving as exclusive financial advisor to Key Surgical and Winston & Strawn and Stinson are serving as legal counsel.
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Source: Biospace