Topic: How To Invest

Power Growth Investor Hotline – Friday, August 5, 2022

Article Excerpt

STERIS PLC, $211.98, is a buy. The company (symbol STE on New York) sells sterilization equipment, surgical tables, and other products and services used in hospitals and laboratories. The company operates in four segments: Healthcare Products (47% of revenues), Applied Sterilization Technologies (21%), Healthcare Specialty Services (19%), and Life Sciences (13%). Although based in the U.K., it generates 73% of its revenue in the U.S. market. On June 2, 2021, Steris completed the acquisition of New Jersey-based Cantel Medical (symbol CMD on New York). The cash and stock deal is valued at $4.6 billion. Cantel is a provider of disposable infection-control products used in endoscopy procedures (the insertion of a long, thin tube directly into the body to observe an internal organ or tissue in detail). It also distributes towels and bibs used in dental offices as well as surgical masks. The Cantel purchase comes after Steris’s October 2020 acquisition of Key Surgical for $810 million. Key Surgical, founded in 1988, is a leading…

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