Steris drops $226m on General Econopak, Black Diamond Video

Steris (NYSE:STE) today said it agreed to pay $226 million to acquire a medical sterilization company and an operating room integration provider.

Mentor, Ohio-based Steris said it agreed to put up $175 million for Philadelphia-based General Econopak, which makes sterility maintenance, barrier protection and sterile cleanroom products.

Steris also said it paid $51 million for Black Diamond Video, which makes OR integration systems.

The General Econopak deal is expected to close by the end of the 2nd quarter this year, Steris said.

Both deals are expected to add 6¢ to its adjusted earnings per share in fiscal 2016 and another 15¢ in fiscal 2017, the company said.

Steris and Synergy Health are contesting the U.S. Federal Trade Commission’s attempt to block Steris’s acquisition of the British company. Steris offered to buy Synergy for about $1.9 billion in October. The companies said in mid-January that the FTC had requested additional information and documentary material related to the deal, effectively extending the initial deal closing of March 31. In March the companies postponed a shareholder vote on their proposed merger in order to comply with an information request from the FTC. U.K. regulators approved the deal in February.

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