Endo-Surgery, a Johnson & Johnson company, has signed a definitive agreement to acquire the US-based medical device repair company SterilMed.
SterilMed offers products and services including medical device reprocessing, equipment repair and pre-owned equipment sales that help healthcare providers lower their medical device and equipment costs, while reducing the amount of environmental waste they generate.
Upon acquisition, SterilMed will be managed as part of the Ethicon Endo-Surgery franchise, but will continue to operate as a stand-alone company and retain the name SterilMed.
Ethicon Endo-Surgery chairman Karen Licitra said together they will continue to focus on developing innovative surgical solutions, while providing healthcare facilities with a range of flexible product options to save money, reduce medical waste and maintain quality care for patients.
Closing of the transaction is based on the expiration of all applicable waiting periods pursuant to the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.
Financial terms of the agreement have not been disclosed.