STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention. The company offers a mix of innovative products and services including consumable products, such as detergents, endoscopy accessories, barrier products, instruments and tools; and services, including equipment installation and maintenance, microbial reduction of medical devices, instrument and scope repair, laboratory testing, outsourced reprocessing; and capital equipment, such as sterilizers, surgical tables, and automated endoscope reprocessors, and connectivity solutions such as operating room integration.

The company operates in three reportable business segments: Healthcare, Applied Sterilization Technologies (AST), and Life Sciences. The bulk of revenues are derived from healthcare, medical device and pharmaceutical Customers. Growth in these industries is driven by the aging population, advancements in healthcare delivery, new technologies, government policies, and general economic conditions.

• Employees: 18,179 (average for FY2024)
• Geographic Footprint: Operates in over 25 countries
• Headquarters: Dublin, Ireland
• Founded: Not explicitly stated in the 10-K
• Number of locations/facilities: Over 150 locations
• Revenue: $5.139 billion (FY2024)
• Market Capitalization: $21.614 billion (as of September 30, 2023)
• Key Subsidiaries/Brands: Not explicitly stated in the 10-K

• CEO: Daniel A. Carestio
• CFO: Michael J. Tokich
• Vice President and Chief Human Resources Officer: Mary Clare Fraser
• Senior Vice President and General Manager, AST: Kenneth E. Kohler
• Senior Vice President and General Manager, Life Sciences: Julia K. Madsen
• Senior Vice President and President, Healthcare: Cary L. Majors
• Board Chair: Mohsen M. Sohi

Key leaders have extensive experience in their respective fields. Daniel A. Carestio assumed the role of CEO in July 2021. Michael J. Tokich assumed the role of CFO in August 2017. Mary Clare Fraser assumed the role of Senior Vice President and Chief Human Resources Officer in May 2022. Kenneth E. Kohler assumed the role of Senior Vice President and General Manager, AST in February 2024. Julia K. Madsen assumed the role of Senior Vice President and General Manager, Life Sciences in July 2020. Cary L. Majors assumed the role of Senior Vice President and President, Healthcare in August 2022.

• Annual Revenue: $5.139 billion (FY2024)
• Net Income: $380.1 million (FY2024)
• Market Cap: $21.614 billion (as of September 30, 2023)
• Total Assets: $11.064 billion (as of March 31, 2024)
• Number of Employees: 18,179 (average for FY2024)
• Key Financial Highlights: Revenues increased by 13.3% year-over-year. Gross profit percentage decreased to 43.2% from 43.7%. Income from operations increased by 5.7% year-over-year. Cash flows from operations were $973.3 million and free cash flow was $620.3 million.

STERIS offers a diverse range of products and services:

• Consumable Products: Detergents, endoscopy accessories, barrier products, instruments and tools.
• Services: Equipment installation and maintenance, microbial reduction of medical devices, instrument and scope repair, laboratory testing, outsourced reprocessing.
• Capital Equipment: Sterilizers, surgical tables, automated endoscope reprocessors, and connectivity solutions such as operating room integration.

STERIS operates through three main segments:

• Healthcare: Provides a comprehensive offering for healthcare providers focused on sterile processing departments and procedural centers.
• Applied Sterilization Technologies (AST): Supports medical device and pharmaceutical manufacturers through contract sterilization and laboratory testing facilities.
• Life Sciences: Offers products and services designed to support biopharmaceutical and medical device research and manufacturing facilities.

Revenue breakdown by segment:

• Healthcare: $3.613 billion (FY2024)
• AST: $953.980 million (FY2024)
• Life Sciences: $571.702 million (FY2024)

STERIS's strategy focuses on managing costs, growing the business through internal product and service development, investing in greater capacity, and augmenting these methods with potential acquisitions. Key strategic initiatives include:

• Reducing the environmental impact of products.
• Expanding irradiation processing capacity.
• Implementing Lean concepts and in-sourcing production.
• Improving energy and water efficiency and reducing waste.
• Focusing on employee engagement and development.

STERIS operates in highly competitive and regulated markets. The company competes with a number of large companies with significant product portfolios and global reach, as well as smaller companies with limited product offerings. Key competitors include 3M, Baxter, Boston Scientific, Belimed, Fortive, Getinge, Karl Storz, Olympus, Ruhof, SteelCo, Stryker, Skytron and Wassenburg, Agiliti, BBraun, Crothall, Olympus and Pentax. The company believes that its long-term competitive position depends on its success in discovering, developing, and marketing innovative, cost-effective products and services.

• Legal, Regulatory and Tax Risks: Compliance with international laws, anti-corruption laws, and changes in tax laws may adversely affect the company.
• Economic Risks: Adverse economic conditions, credit and liquidity problems, and changes in government healthcare funding may negatively impact the business.
• Geopolitical Risks: Geopolitical instability, including the Russia-Ukraine and Israel-Hamas military conflicts, may cause supply chain disruptions, rising energy costs, and volatility in capital markets.
• Operational Risks: Supply chain disruptions, business continuity hazards, and reliance on a limited number of suppliers may negatively impact operations.
• Product and Service Related Risks: Extensive regulatory requirements, failure to receive or maintain regulatory approvals, and product liability claims may impact the business.