Stock Value
About STERIS
STERIS plc operates as a global provider of products and services that support patient care with an emphasis on infection prevention.
The company offers its Customers a unique mix of innovative consumable products, such as detergents, endoscopy accessories, barrier products, and other products and services, including: equipment installation and maintenance, microbial reduction of medical devices, dental instruments and tools, instrument and scope repair, laboratory testing services, outsourced reprocessing, and capital equipment products, such as sterilizers and surgical tables, automated endoscope reprocessors, and connectivity solutions, such as operating room (OR) integration.
Segments
The company operates through four business segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental.
Healthcare segment
This segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites. The company’s products and services range from infection prevention consumables and capital equipment, as well as services to maintain that equipment; to the repair of re-usable procedural instruments; to outsourced instrument reprocessing services. In addition, the company’s procedural solutions include endoscopy accessories and capital equipment infrastructure used primarily in operating rooms, ambulatory surgery centers, endoscopy suites, and other procedural areas.
Products Offered
The company’s products include cleaning chemistries and sterility assurance products, automated endoscope reprocessing systems and tracking products, endoscopy accessories, washers, sterilizers and other pieces of capital equipment essential to the operations of a sterile processing department (SPD) and equipment used directly in the procedure rooms, including surgical tables, lights, equipment management services, and connectivity solutions.
Services Offered
This segment service employees install, maintain, upgrade, repair, and troubleshoot capital equipment throughout the world. The company offers various preventive maintenance programs and repair services to support the effective operation of capital equipment over its lifetime. This segment also provides comprehensive instrument and endoscope repair and maintenance services (on-site or at one of its dedicated facilities), custom process improvement consulting and outsourced instrument sterile processing (on-site at the hospital and in off-site reprocessing centers).
Customer Concentration
This segment sells consumables, services and capital equipment, to Customers in many countries throughout the world.
Competition
On a product basis, competitors include 3M, Baxter, Boston Scientific, Belimed, Ecolab, ERBE, Fortive, Getinge, Karl Storz, Metrex, Olympus, Ruhof, SteelCo, Stryker, Skytron and Wassenburg. On a service line basis, competitors include Agiliti, BBraun, Berendsen plc, CleanLease (Clean Lease Fortex), Parts Source, Olympus, Owens & Minor, Pentax, Rentex Awe and Rentex Floren and Sterilog Limited.
Applied Sterilization Technologies segment
This segment is a third-party service provider for contract sterilization, as well as testing services needed to validate sterility for medical device and pharmaceutical manufacturers. The company’s technology-neutral offering supports Customers every step of the way, from testing through sterilization.
Services Offered
The company offers a wide range of sterilization modalities and an array of testing services that complement the manufacturing of single use, sterile products. The company’s facilities are located in regions with a concentration of medical device manufacturing throughout the Americas, Europe, and Asia. The company’s technical professionals supports Customers in all phases of product development, materials testing, and process validation. In addition, the company manufactures and supplies integrated sterilization equipment and control systems to medical device manufacturers and research institutions.
Customer Concentration
This segment’s services are offered to Customers throughout the world.
Competition
This segment competes with Sterigenics International, Inc.
Life Sciences segment
This segment provides a comprehensive offering of products and services that support pharmaceutical manufacturing, primarily for vaccine and other biopharma Customers focused on aseptic manufacturing. The company’s portfolio includes a full suite of consumable products, equipment maintenance and specialty services, and capital equipment.
Products Offered
The company’s products include formulated cleaning chemistries, barrier products, sterility assurance products, steam and vaporized hydrogen peroxide sterilizers and washer disinfectors.
Services Offered
This segment service employees install, maintain, upgrade, repair, and troubleshoot equipment throughout the world. The company offers various preventive maintenance programs and repair services to support the effective operation of capital equipment over its lifetime.
Customer Concentration
This segment sells consumables, services and capital equipment, to Customers in many countries throughout the world.
Competition
Competitors include Belimed, Ecolab, Fedegari, Getinge, MECO, Stilmas, and Techniplast.
Dental segment
This segment provides a comprehensive offering for dental practitioners and dental schools, offering instrumentation, infection prevention consumables, and instrument management systems.
Products Offered
The company’s products include hand and electric-powered dental instruments, infection control products, conscious sedation, personal protective equipment and water quality products for the dental suite.
Customer Concentration
The company’s dental products are sold globally to wholesale Customers and directly to end users in many countries. The company’s wholesale Customers primarily include major healthcare distributors, with some group purchasing organizations and buying co-operatives that sell its products to dental practices, medical facilities, government & educational institutions, and veterinary clinics. The majority of the company’s dental products are sold under its brand names, but it also supplies private label products for several of its Customers.
Competition
On a product basis, competitors include 3M, Braun/Aesculap, Danaher/Sybron, Dentsply/Sultan Healthcare, J&J/Ethicon, Halyard Health, LM Dental, Medicom, Porter Instrument, Sterisil, and Young Dental.
Methods of Distribution
The company also contracts with distributors and dealers.
Intellectual Property
As of March 31, 2023, the company held 581 United States patents and 2,356 patents in other jurisdictions and had 159 United States patent applications and 372 patent applications pending in other jurisdictions.
As of March 31, 2023, the company had a total of approximately 2,482 trademark registrations worldwide.
Government Regulation
In the United States, the Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), the Occupational Safety and Health Administration (OSHA), the Nuclear Regulatory Commission (NRC), and other governmental authorities regulate the development, manufacture, sale, and distribution of the company’s products and services.
History
The company was founded in 1985. It was incorporated in 2016. The company was formerly known as Innovative Medical Technologies and changed its name to STERIS Corporation in 1987 and then to STERIS plc in 2015.
