Healthcare giant Steris (NYSE:STE) acquired surgical instrument repair businesses Spectrum Surgical Instruments Corp. and Total Repair Express for total of about $110 million.
The acquisitions are part of Steris’s efforts to its healthcare segment and provide niche services to customers, according to a company statement.
"As we continue to expand our customer solutions, entering the surgical instrument repair business through these acquisitions will enhance our existing presence in hospital sterile processing and surgical departments," president & CEO Walt Rosebrough said in prepared remarks. "These bolt-on acquisitions will give Steris one of the largest surgical instrument repair businesses in the U.S., and we are excited about the opportunity to leverage our existing Customer relationships to grow these businesses throughout the country."
Steris provides installation, maintenance and repair services for capital equipment in healthcare facilities. Ohio-based Spectrum and New Jersey company TRE offer inspection, cleaning, lubrication and repair of reusable surgical instruments such as forceps, retractors and scissors. Typical service contracts includes regular instrument maintenance for hospital surgical suites, according to the press release.
The combined businesses are anticipated in calendar year 2012 to generate revenue of approximately $72 million and operating income of approximately $7 million.
Steris in July acquired gastrointestinal devices maker U.S. Endoscopy Group for $270 million in cash.
