Steris Corp. Archives - Medical Design Sourcing

Steris sticks by EPS guidance amid additional currency headwinds

Steris (NYSE: STE) reported mixed third-quarter results, but it held the line on EPS guidance amid additional foreign currency headwinds.

The provider of sterilization services and other infection prevention tech lost $315.2 million, or $3.15 per share, off $1.20 billion in revenue for the quarter ended Sept. 30, 2022. Steris swung to a loss versus Q3 2021, when it earned $69.8 million, or 69¢ per share. Revenue was up 0.3%.

Adjusted to exclude one-time items, Steris had earnings per share of $1.99. The result was a penny ahead of The Street, where analysts expected EPS of 98¢. However, revenue was slightly down from analysts’ $1.22 billion prediction.

Some supply chain relief for Steris

“We are pleased with our operational performance in the quarter, which reflected solid constant currency organic revenue growth in a challenging environment,” CEO Dan Carestio said in a news release out yesterday evening.

“As anticipated, we saw some relief …

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%.

Get the full story at our sister site, Drug Delivery Business News.

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.

Get the full story on our sister site Medical Design & Outsourcing.

Contract manufacturers fuel medtech expansion in Costa Rica

Medical device manufacturing is flourishing in the Central American country, spurred by a host of incentives.

[Image from Unsplash]This year is seeing a wave of expansions by medtech contract manufacturers in Costa Rica.

Medtech OEMs have made the Central American company a manufacturing hub since the 1990s. Major companies operating there include Abbott, Bayer, Boston Scientific, Cardinal Health, Edwards Lifesciences, Hologic, Medtronic, Philips, Smith+Nephew and Wright Medical. Eight of these are among the top 20 exporters in Costa Rica, representing nearly $2.7 million in medical device exports in 2019 — 73% of the total.

Medtech OEMs in Costa Rica want their suppliers nearby, making the Central American country a magnet for contract manufacturers. The addition of medtech sterilization facilities in Costa Rica — BeamOne (now Steris) in 2009 and Sterigenics in 2013 — also helped spur more contract manufacturing. Before that, manufacturers had to ship prod…

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.

Get the full story on our sister site, Medical Design & Outsourcing.

Steris beats The Street, announces leadership change

Steris (NYSE:STE) beat The Street on both sales and profits in its fiscal third quarter and announced that CEO Walt Rosebrough will step down July 29, 2021.

The Dublin, Ireland-based sterilization and surgical products company posted profits of $114.5 million or $1.33 per share, on sales of $808.9 million for the three months ended Dec. 31, 2020, for a 9% bottom-line gain on a sales boost of 4.5%.

Adjusted to exclude one-time items, earnings per share were $1.73, 19¢ ahead of Wall Street, where analysts were looking for sales of $793 million.

Get the full story on our sister site, Medical Design & Outsourcing.

FDA says to limit mask decontamination to 4 cycles

(Image courtesy of Brian McGowan on Unsplash)

Soon after healthcare workers began warning of personal protective equipment (PPE) shortages, companies and other organizations started claiming their decontamination systems could reprocess used filtering facepiece respirators (FFRs) such as N95s up to 20 times.

The FDA began issuing emergency use authorizations (EUAs) for FFR decontamination systems with a range of allowable cycles and major media organizations and nurses began to question the claims about the number of times an FFR could be safely decontaminated and reused. Companies, universities and other organizations gained EUAs for sterilizing masks up to 10 times (Sterilucent and Steris), and Stryker (up to two times), with a total of 13 organizations now holding 15 such EUAs.

Get the full story on our sister site, Medical Design & Outsourcing.

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.

“If you’re making a device, you have to understand and build into it how it will be connected for that episode of care as as well as how it fits into the continuum of care,” Huennekens said in an interview with the DeviceTalks Weekly Podcast. “It just has to be part of the way you’re thinking.”

Verb Surgical, of course, is now part of Johnson & Johnson’s surgical robot product line, Ottava, which the company unveiled last year.

In a separate interview on the podcast, Mark Toland, the former CEO o…

MedTech 100 roundup: Finally a dip as industry stays relatively strong

After three consecutive weeks of record-breaking numbers, medtech industry stocks finally fell backward over the past seven days.

MassDevice‘s MedTech 100 index finished last week at 105.8 (Jan. 15), marking a -0.95% drop from the 106.81 points (the highest ever total for the index) registered at the end of the week prior (Jan. 8). Medtech’s stock performance appeared to mirror overall markets as the S&P 500 Index saw a -1.5% loss, while the Dow Jones Industrial Average fared almost identically to medtech, falling by -0.91%.

The index still remains more than 13 points ahead of its pre-pandemic high of 92.32 on Feb. 19, 2020. Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 70.3% growth in total, as of the end of last week. (Here are some of the best-performing medtech stocks from 2020.)

The industry continues to plug along and businesses continue to operate thro…

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.

Get the full story on our sister site Medical Design & Outsourcing.

Steris ticks up on Street-beating Q1

Steris (NYSE:STE) shares ticked up as the market closed today after reporting first-quarter results that beat the consensus forecast.

The Dublin, Ireland-based sterilization and surgical products company posted profits of $88.1 million, or $1.03 per share, on sales of $668.9 million for the three months ended June 30, 2020, for a 3.9% bottom-line gain despite a sales decline of 4%.

Adjusted to exclude one-time items, earnings per share were $1.31, 35¢ ahead of Wall Street, where analysts were looking for sales of $635.98 million.

Steris reported a -10% decline in revenues for its healthcare segment, along with a 1% drop in applied sterilization technologies. However, those dips were offset by 21% growth in life sciences because of increased demand for vaccines and biologics amid the COVID-19 pandemic.

“We are pleased with our overall performance during such a challenging time,” Steris president & CEO Walt Rosebrough said in a news release. “Ou…

FDA restricts re-use of certain respirators for COVID-19

Certain respirators made in China and respirators with exhalation valves should not be decontaminated for re-use by healthcare workers, the FDA announced today.

The agency revised these respirators’ emergency use authorizations (EUAs) to reflect the changes. The particular respirators from China “may vary in their design and performance,” the FDA said, basing its decision on test results from the National Institute for Occupational Safety and Health (NIOSH).

The agency also revised the EUAs for certain decontamination systems so they are are no longer authorized to decontaminate non-NIOSH-approved respirators manufactured in China. These systems now may only decontaminate NIOSH-approved, non-cellulose respirators that do not have an exhalation valve as well as certain imported, non-NIOSH-approved respirators with exhalation valves.

Manufacturers with revised EUAs include Stryker, Duke, Advanced Sterilization Products, Sterilucent, Steri…