Sterion Incorporated Announces Sale of Sterilization Container Product Line to STERIS Corporation
MINNEAPOLIS, and MENTOR, Ohio -- Sterion Incorporated and STERIS Corporation announced that Sterion has sold certain sterilization container assets to STERIS for $2.9 million in cash. The Sterion Sterilization Container System offers healthcare personnel a simple and reliable system for managing instrument sterile processing, storage and aseptic transport. The product line had annual revenues of approximately $3.5 million in 2002.
Sterion has made a strategic decision to focus its management attention and resources on other key areas of its business, such as negative pressure wound therapy and the related surgical drains business, which represent excellent growth opportunities for the company. The transaction is also consistent with STERIS's strategy to broaden its infection and contamination prevention product offering through its established healthcare sales channel by providing a system solution for the sterile processing needs of its customers.
Sterion Incorporated, with fiscal year 2002 net sales of $9.5 million, develops, manufactures and markets single-use medical supplies and medical and surgical devices. Principal medical products produced and sold by Sterion include negative pressure wound therapy surgical drain systems, surgical loops, surgical clamp covers, surgical instrument protection guards, suture aid booties, wound closure strips, surgical instrument identification tape, surgical instrument cleaning brushes and various holders and organizers for surgical instruments used in the operating room.
STERIS Corporation is a leading provider of infection prevention, contamination prevention, microbial reduction, and surgical support systems, products, services and technologies to healthcare, scientific, research, industrial, and government customers throughout the world.
Source: Sterion Incorporated
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