Steris gains on $2.1 bln Xodus Medical buy

By Reuters News

** Steris PLC STE.N shares up more than 2% at $219.32

** The medical equipment maker says it will buy privately held surgical products maker Xodus Medical for $2.1 bln

** Co says acquisition will deepen its presence in hospitals and laboratories, where demand for its sterilization products and consumables remains strong

** Co expects about $300 million in cash tax benefits, bringing the net purchase price to ~$1.8 billion.

** Co plans to fund the deal primarily with debt; expects it to close by December 31

** 7 of 10 brokerages rate the stock "buy" or above, 3 "hold"; median PT - $270 - data compiled by LSEG

** Including session's moves, stock down 13.5% YTD

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