Steris plc is an American-Irish-based medical equipment company specializing in sterilization and

surgical Surgery is a medical specialty that uses manual and instrumental techniques to diagnose or treat pathological conditions (e.g., trauma, disease, injury, malignancy), to alter bodily functions (e.g., malabsorption created by bariatric surgery ...

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

Mentor Mentorship is the patronage, 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 perso ...

Ohio Ohio ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Erie to the north, Pennsylvania to the east, West Virginia to the southeast, Kentucky to the southwest, Indiana to the ...

, but has been legally registered since 2018 in

Dublin Dublin is the capital and largest city of Republic of Ireland, Ireland. Situated on Dublin Bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, and is bordered on the south by the Dublin Mountains, pa ...

Ireland Ireland (, ; ; Ulster Scots dialect, Ulster-Scots: ) is an island in the North Atlantic Ocean, in Northwestern Europe. Geopolitically, the island is divided between the Republic of Ireland (officially Names of the Irish state, named Irelan ...

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 Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

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 the List of stock exchanges, largest stock excha ...

, 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 leading companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices and in ...

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 2024, the President and CEO is Daniel A. Carestio. Steris' competitors include 3M, Getinge Group, 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 factory ...

History

Steris was founded in August 1985 in Ohio, under the name "Innovative Medical Technologies". In 2012, Steris acquired US

Endoscopy An endoscopy is a procedure used in medicine to look inside the body. The endoscopy procedure uses an endoscope to examine the interior of a hollow organ or cavity of the body. Unlike many other medical imaging techniques, endoscopes are insert ...

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, making it the state's 14th most populous city. The broader valley of Chesterfield was ...

-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 Synergy Health plc () was a global company headquartered in the United Kingdom. The company provides specialist outsourced services to the Health care, healthcare and related markets around the world, including Sterilization (microbiology), ster ...

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. Obama, a Democrat from Illinois, took office following his victory over Republican nomine ...

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 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 respirator is a disposable filtering facepiece respirator or reusable elastomeric respirator filter that meets the U.S. National Institute for Occupational Safety and Health (NIOSH) N95 standard of air filtration, filtering at least 95% ...

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, elect ...

during the 2019-20 coronavirus pandemic. In November 2020, Steris acquired Key Surgical, a leading global provider of sterile processing, operating room, and endoscopy products. In June 2021, Steris acquired

Cantel Medical Corporation Cantel Medical Corporation is an American company that produces and sells medical equipment. The company is based in Little Falls, New Jersey. The company has three subsidiaries: MEDIVATORS, Crosstex, and Mar Cor Purification. History Cantel ...

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