SEARCH
Current Location:
>
> This Story

starstarstarstarstar (1)
Log in or Register to rate this News Story
Forward Printable StoryPrint Comment

Never Miss a Story

Sign up for email alerts

 

More Industry Headlines

SPECT can help physicians differentiate between PTSD and Traumatic Brain Injuries: study Success of new TBI treatment relies on SPECT information

Antibiotic resistance: 'A natural feature of most bacteria' Resistance genes present in the microbiomes of remote tribespeople

Telehealth program cuts costs by 27 percent for Banner Health Reduces hospitalization among chronically ill by 45 percent

Oxford Instruments acquires Medical Imaging Resources for $24 million Deal expands Oxford's imaging footprint with a mobile medical expertise

Apple Watch, the newest diagnostic tool in the battle against chronic diseases? A pilot program from Ochsner Health System thinks it could be

Is dementia screening a good fit for telehealth? Most older adults think so Almost two-thirds of adults over 65 surveyed are on board with telephone screening for dementia

Accuray and MIM partner to develop adaptive therapy software The goal is to “deliver even better tailored radiation therapy”

Royal Philips launches its 3-D navigation system, VesselNavigator Provides guidance for minimally invasive treatment of vascular disease

Philips and Georgia Regents partner to innovate care delivery model: Two years later To date, there has been $7 million in cost savings and 35 percent decrease in technology spending

Proton therapy: No longer just for large, academic hospitals Treatments are underway at the Ackerman Cancer Center in Florida, the first physician-owned proton facility

Steris to buy US Endoscopy for $270 million

by Brendon Nafziger , DOTmed News Associate Editor
Steris Corp. said this week it would buy privately held US Endoscopy for $270 million in an attempt to enter the gastrointestinal devices market.

The transaction is expected to close at the end of the second quarter of fiscal 2013, the Mentor, Ohio-based maker of sterilizers and other medical equipment said. US Endoscopy is also based in Mentor.

Story Continues Below Advertisement

We want to buy your Siemens Symphony or Avanto MRI -- today!

Top Dollar Paid, Fixed or Mobile. Call our Siemens Specialist for a Quote today -- 212-558-6600 Ext. 250 DOTmed Certified



"They have generated double-digit organic growth for many years through successful new product development, and the acquisition provides Steris immediate scale with a direct sales force in the U.S. and a strong brand name," Walt Rosebrough, Steris' president and CEO, said in a statement.

US Endoscopy, founded in 1991, earned nearly $14 million in income on about $70 million in revenues last year, Steris said.

Steris said it was financing the deal through a mixture of cash on hand and existing credit facilities, and also expected a tax break of about $50 million.

The company said the deal would likely be dilutive by 5 cents to earnings per share for fiscal 2013, but the outlook of $2 to $2.20 per share for fiscal 2013 remains unchanged. Steris said the deal should be accretive to earnings by fiscal 2014.

Steris said it would also purchase land and buildings used by US Endoscopy for about $7 million.

Related:


Interested in Medical Industry News? Subscribe to DOTmed's weekly news email and always be informed. Click here, it takes just 30 seconds.

You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2015 DOTmed.com, Inc.
ALL RIGHTS RESERVED