Steris rises on Street-beating Q4, sets fiscal 2023 guidance

Steris (NYSE:STE) shares ticked up today on fourth-quarter financial results that came in just ahead of the consensus forecast.

The infection prevention technology company — headquartered in Dublin, Ireland and run operationally out of Mentor, Ohio — posted profits of $52.3 million, or 52¢ per share, on sales of $1.2 billion for the three months ended March 31, 2022, for a 40.2% bottom-line slide on sales growth of 37.4%.

Adjusted to exclude one-time items, earnings per share were $2.04, 2¢ ahead of Wall Street, where analysts were looking for sales of $1.19 billion.

The company’s healthcare segment’s revenues grew by 32% year-over-year, while applied sterilization technologies grew by 19% and life sciences grew by 15%. Dental revenues of $105.7 million were below expectations primarily due to COVID-19 impacts on patient volumes and higher supply chain and inflationary costs.

“We are pleased to end the year with strong performance in t…

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Steris up on Street-beating Q3 results

Steris (NYSE:STE) reported fiscal third-quarter results that beat the consensus forecast on Wall Street, upping its fiscal 2022 forecast.

The infection prevention technology company — headquartered in Dublin, Ireland and run operationally out of Mentor, Ohio — earned $143.6 million, or $1.42 per share, off $1.2 billion in revenue for the quarter ended Dec. 31, 2021. The results, posted yesterday evening, represented 25% bottom-line growth and 49% top-line growth compared with the previous Q3.

Adjusted to exclude one-time items, earnings per share were $2.12, 16¢ ahead of The Street, where analysts were looking EPS of $1.96 on sales of $1.19 billion.

“While supply chain and inflation continue to be a challenge, our teams have worked to manage through with minimal impact on our ability to serve our customers,” Steris CEO Dan Carestio said in a news release.

Steris said it expects to log adjusted EPS of $7.85–7.95 this fiscal year, up from prio…

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Medtech M&A: The industry’s biggest mergers and acquisitions of 2021

[Image from Jp Valery on Unsplash]

Across 2021, medtech has seen a wide range of mergers and acquisitions covering several areas of devices, pharmaceuticals and more.

Some have gone off without a hitch, while others fell into serious scrutiny as mouthwatering financial figures were revealed and major technologies were acquired.

Here are the 10 biggest mergers and acquisitions in medtech in 2021:

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STERIS and H+E Pharma partner on clean utility water systems

STERIS (Menton, Ohio) and H+E Pharma (Stuttgart, Germany) will collaborate on designing, installing and maintaining utility water systems for the pharma sector and other life science applications in Europe.

The partnership will provide end-to-end, turnkey clean utility water systems. “We can now provide our broad portfolio of Finn-Aqua products, alongside H+E’s engineering expertise to offer pre- and post-treatment purified water (PW) and [water for injection] WFI systems that use an environmentally sustainable design and provide the lowest total cost of ownership throughout the lifecycle of the system,” said Steve Schultz, vice president, global accounts of STERIS Life Sciences, in a statement.

H+E Pharma is the result of a joint venture between industrial water treatment specialist H+E GmbH and AUSTAR Group, a Hong Kong–based pharmaceutical engineering solution provider.

STERIS notes that it can be a single point of contact for such projects.

ST…

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Steris launches two new vaporized hydrogen peroxide biodecontamination systems

The VHP 100i (left) and 1000i (right) systems [Image courtesy of Steris]

Steris has launched the next generation of its vaporized hydrogen peroxide (VHP) biodecontamination systems to achieve 6-log bioburden reduction in good-manufacturing-practice pharmaceutical, medical device and research environments.

It’s possible to integrate the new VHP 100i and 1000i systems into a facility’s building automation and HVAC systems, running a decontamination cycle at programmed intervals or at the push of a button. The result, according to Steris, is easy and frequent decontamination of rooms, isolators, filling lines, RABs, pass-through chambers and more.

“The new VHP systems incorporate input received at thousands of VHP customer sites on five continents,” said Andrea Conroy, VP of marketing for Life Science Equipment and Service at Steris, said in a Sept. 9 news release. “They are engineered to streamline…

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Steris launches two new vaporized hydrogen peroxide biodecontamination systems

The VHP 100i (left) and 1000i (right) systems [Image courtesy of Steris]

Steris has launched the next generation of its vaporized hydrogen peroxide (VHP) biodecontamination systems to achieve 6-log bioburden reduction in good-manufacturing-practice pharmaceutical, medical device and research environments.

It’s possible to integrate the new VHP 100i and 1000i systems into a facility’s building automation and HVAC systems, running a decontamination cycle at programmed intervals or at the push of a button. The result, according to Steris, is easy and frequent decontamination of rooms, isolators, filling lines, RABs, pass-through chambers and more.

“The new VHP systems incorporate input received at thousands of VHP customer sites on five continents,” said Andrea Conroy, VP of marketing for Life Science Equipment and Service at Steris, said in a Sept. 9 news release. “They are engineered to streamline t…

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These 5 medtech companies made it into the top 200 of Forbes’ best places to work list

Johnson & Johnson, Steris, Philips, Fujifilm Holdings and Boston Scientific were recently named among Forbes’ best large employers in America, based on feedback from their employees.

Forbes partnered with a market research firm to survey 50,000 Americans working for businesses with at least 1,000 employees. Survey participants were asked to rate their willingness to recommend their employer to friends and family and to nominate a business that wasn’t their own.

Johnson & Johnson (NYSE:JNJ) ranked 84 out of the full list of 500. The New Brunswick, N.J.-based company has a 4.2 out of 5-star rating on the job board website Glassdoor. Johnson & Johnson, founded in 1886, employs over 132,000 people. Its medical device segment generated $25.96 billion in revenue in 2019.

Mentor, Ohio-based Steris (NYSE:STE) ranked 105 on Forbes’s list of the best large employers in America. The company has a 3.6 out of 5-star rating on Glassdoor. …

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Medtechs can’t set digital strategies aside – DTW Podcast

Digital connectivity no longer belongs in the final slides of a medtech company’s pitch deck.

In the latest DeviceTalks Weekly podcast, three leaders pushing for connected medical devices explain the need to incorporate data collection and monitoring functionality in new devices:

Scott Huennekens, who advanced the “digital surgery” strategy when he helped launch Verb Surgical, says new medtech tools must be connected to provide maximum benefit. In a separate interview on the podcast, Mark Toland, the former CEO of Corindus Vascular Robotics, says medtech companies moving into the surgical robotics space are advancing the model by building digital infrastructures around the surgical system. “Now they’re thinking about the data integration work, they’re thinking about how that translates into artificial intelligence over time,” he said. Also in this podcast, Kal Patel, the CEO and co-founder of BrightInsight, shares the insight he’s bringing to medtech from his pas…
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BREAKING: Steris to acquire Cantel Medical in $4.6B deal

Steris (NYSE:STE) announced today that it will acquire Cantel Medical (NYSE:CMD) for $4.6 billion — a major merger in the infection prevention space.

The deal is expected to close by June 30, pending customary closing conditions, regulatory approvals and an OK by Cantel shareholders. News of the merger comes a month and a half after Steris closed on its $850 million purchase of Key Surgical.

The deal will add a full suite of high-level disinfection disposables, capital equipment and services — as well as additional single-use accessories — to Steris’s endoscopy offerings. Cantel’s dental business will also extend Steris into a new segment of potential customers.

“We have long appreciated Cantel, which is a natural complement and extension to Steris’s product and service offerings, global reach and customers,” Steris CEO Walt Rosebrough said in a news release. “Our companies share a similar focus on infection prevention across a range of healt…

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