Steris Corporation is an Irish-domiciled medical equipment company specializing in sterilization and

surgical Surgery ''cheirourgikē'' (composed of χείρ, "hand", and ἔργον, "work"), via la, chirurgiae, meaning "hand work". is a medical specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pat ...

products for the US healthcare system. Steris is operationally headquartered in

Mentor Mentorship is the influence, guidance, or direction given by a mentor. A mentor is someone who teaches or gives help and advice to a less experienced and often younger person. In an organizational setting, a mentor influences the personal and p ...

Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...

, but has been legally registered since 2018 in

Dublin Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of th ...

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

for tax purposes; it was previously registered in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

from 2014 to 2018. Steris is quoted on the

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is by far the List of stock exchanges, world's largest s ...

, and is a constituent of the

S&P 500 Index The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of D ...

Profile

Steris filed accounts which showed global revenues of over US$2.6 billion in 2018, of which US$1.8 billion (or 70 percent) came from the US healthcare system; and employed ~12,000 people. As of 2020, the President and CEO is Walter M. Rosebrough. Steris' competitors include 3M,

Getinge Getinge is a Urban areas in Sweden, locality situated in Halmstad Municipality, Halland County, Sweden, with 1,843 inhabitants in 2010. Economy Getinge Group had its headquarters in the village until 2014. History The local assembly, the Halland ...

, and Belimed (

Metall Zug The Metall Zug Group is a Swiss industrial holding company headquartered in Zug, Switzerland which was founded in 1887. Shares of the company are traded on the SIX Swiss Exchange. History Metall Zug was founded in 1887 as a metal goods facto ...

History

Steris was founded in August 1985 in Ohio, under the name "Innovative Medical Technologies". In 2012, Steris acquired US Endoscopy for $270 million. Steris also acquired Spectrum Surgical Instruments Corp. and Total Repair Express for $110 million combined. On April 1, 2014, Steris announced its acquisition of Integrated Medical Systems International Inc. for ~$175 million, although it would only cost the company ~$140 million after tax benefits. Shortly after, Steris also acquired

Chesterfield, Missouri Chesterfield is a city in St. Louis County, Missouri, United States. It is a western suburb of St. Louis. As of the 2020 census, the population was 49,999, . The broader valley of Chesterfield was originally referred to as "Gumbo Flats", derived ...

-based Life Systems. In October 2014, Steris executed a

tax inversion A tax inversion or corporate tax inversion is a form of tax avoidance where a corporation restructures so that the current parent is replaced by a foreign parent, and the original parent company becomes a subsidiary of the foreign parent, thus mov ...

from the United States to the United Kingdom, via an offer made to acquire UK-based Synergy Health for $1.9 billion. The tax inversion was notable as it was the first US inversion post the new rules introduced by the

Obama administration Barack Obama's tenure as the 44th president of the United States began with his first inauguration on January 20, 2009, and ended on January 20, 2017. A Democrat from Illinois, Obama took office following a decisive victory over Republican ...

in 2014 to curb US corporations moving their "legal domicile" to reduce their exposure to US corporate taxation. On June 24, 2015, Steris announced the acquisitions of General Econopak for $175 million and Black Diamond Video for $51 million. In November 2018, Steris announced that it would further re-domicile its legal headquarters from the United Kingdom to Ireland; Steris had reduced its corporate tax rate from 31.3 percent to 20 percent as a result of its 2014 tax inversion to the United Kingdom, however, it believed a further reduction could be achieved by moving to Ireland. In April 2020, Steris received

emergency use authorization An Emergency Use Authorization (EUA) in the United States is an authorization granted to the Food and Drug Administration (FDA) under sections of the Federal Food, Drug, and Cosmetic Act as added to and amended by various Act of Congress, Acts of ...

from the

FDA The United States Food and Drug Administration (FDA or US FDA) is a federal agency of the Department of Health and Human Services. The FDA is responsible for protecting and promoting public health through the control and supervision of food ...

for a

N95 mask An N95 filtering facepiece respirator, commonly abbreviated N95 respirator, is a particulate-filtering facepiece respirator that meets the U.S. National Institute for Occupational Safety and Health (NIOSH) N95 classification of air filtratio ...

sterilization system to help address the shortage of

personal protective equipment Personal protective equipment (PPE) is protective clothing, helmets, goggles, or other garments or equipment designed to protect the wearer's body from injury or infection. The hazards addressed by protective equipment include physical, elec ...

during the

2019-20 coronavirus pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identifie ...

. In June 2021, Steris acquired

Cantel Medical Corporation Cantel Medical Corporation is an American company which produces and sells medical equipment. The company is based in Little Falls, NJ. The company has three subsidiaries: * MEDIVATORS, based in Minneapolis, MN, which sells Dialysis, Endo ...

a provider of infection prevention products and services to endoscopy, dental and dialysis.

References

External links

* {{Authority control Companies listed on the New York Stock Exchange Health care companies of Ireland Health care companies established in 1985 Tax inversions Medical device manufacturers 1985 establishments in Ohio Multinational companies headquartered in the Republic of Ireland

Profile

History

See also

References

External links