Steris Corp. will acquire Integrated Medical Systems International Inc. for approximately $165 million, plus approximately $10 million for the purchase of real estate.
IMS is an endoscope repair, surgical instrument management, and sterile processing consulting company. Upon closing, IMS will be integrated into Steris’s healthcare segment as part of the company’s Specialty Services business, which provides a variety of services to customers including surgical instrument repair and endoscope repair.
“A key element of our growth strategy has been to expand our Specialty Services business through a combination of organic growth and acquisition,” says Walt Rosebrough, President and CEO of Steris Corp. “We are excited about this opportunity to build upon what we do best – help our hospital customers improve processes, increase quality, and save money.”
The surgical instrument repair, endoscope repair, and sterile process consulting business are fragmented with many local and regional competitors, as well as OEM manufacturers who operate nationwide. In addition, many hospitals currently perform certain of these services for themselves.
Steris is a provider of healthcare and life science product and service solutions.
Release Date: April 1, 2014
Source: Steris Corp.